Toys ?R? Us filed for Chapter 11 Bankruptcy this week in the United States?and plans to soon make a similar filing in Canada where it has 70 stores. Excuse us if we wax nostalgic over the prospect of the company disappearing (many of us bought a first toy for ourselves or kids there), but the company insists it has plans to stick around after it restructures a mountain of debt. For now it insists it?s business as usual, for its stores, gift cards and loyalty programs. Here are five things you need to know:
1. How long has Toys ?R? Us been around"

Since Charles Lazarus opened a baby furniture store in 1948, Toys ?R? Us has grown into the leading retail brand that caters exclusively to kids, toys and games. Toys ?R? Us has 1,600 toy stores in 49 U.S. states and 38 countries. Its loyalty program claims 19 million users in the U.S. and 12 million worldwide. 2. Is it because toys aren?t selling anymore"

No, toys are selling very well worldwide?even at Toys ?R? Us. But the company had a debt problem and is facing the same challenges as a lot of other bricks-and-mortar stores. But the big-box toy retailer is struggling with $5 billion in long-term debt, which it spends $400 million a year to service. Toys ?R? Us hopes to restructure its debt, get a new growth plan and reorganize its stores.

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