Toys R Us Files For Bankruptcy: 5 Things Customers Should Know

WAYNE, NJ — Now that global retailer Toys R Us has filed for Chapter 11 bankruptcy protection customers are wondering how the once-giant retailer was forced to go in this direction.

Here are five things you need to know about the once-dominant retailer moving ahead:

• None of the stores are closing — yet

The company's 1,600 Toys R Us and Babies R Us stores will remain open. The vast majority of those stores are profitable, the company said.

• Inventories will be maintained

New seasonal products will be offered ahead of the holiday shopping season and inventory levels will be "maintained" and products will be delivered in a timely fashion, the company said.

• Customer programs will continue

Rewards R Us, Geoffrey's Birthday List and the Babies R Us registry will continue as normal.

• Employees will continue to be paid

Employees will be paid and continue to receive benefits.

"We thank our team members in advance for their hard work and dedication to serving the millions of customers who will shop with us this holiday," said Dave Brandon, chairman and chief executive officer.

• Investing in the future

Toys R Us filed for bankruptcy protection to restructure the $5 billion in long-term debt on its books, which according to Brandon, "will provide us with greater financial flexibility to invest in our business, continue to improve the customer experience in our physical stores and online, and strengthen our competitive position in an increasingly challenging and rapidly changing retail marketplace worldwide."

The company continues to have aspirations to have it brands live on "for many generations," Brandon said.

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Photo by Yana Paskova/Getty Images