People are freaking out about Toys R Us stores closing following its bankruptcy filing— here's what we know so far

pulse

September 19, 2017 5:48 PM

Nostalgic customers are freaking out about Toys R Us closing. Here's why they don't need to panic.

Toys R Us filing for bankruptcy has set off a wave of panic in shoppers.

On Monday, the toy retailer filed for

How Toys 'R Us gone go bank... @ Nina Mosley#emo#

First they take our blockbu... @ Rick Lyons

Toys R Us is about to be th... @ Ben B. Singer

Toys R Us closing legit mad... @ #emo# MANS NOT HOT

However, there's no need for customers to freak out yet. Toys R Us may have filed for bankruptcy — but that does not necessarily mean that its stores are closing.

Chapter 11 bankruptcy is a way for Toys R Us to restructure and renegotiate its roughly $5 billion in debt. It's not a death sentence for stores. For example, retailers such as Eddie Bauer and Aeropostale have kept stores open despite filing for bankruptcy, though both brands closed locations following the filing.

"At Toys R Us, we're taking the right steps to ensure that the iconic Toys R Us and Babies R Us brands live on for many generations," the company wrote on Facebook on Tuesday. "Most importantly – It's business as usual! All of our stores around the world are open, and you can also continue to shop online."

In other words, while Toys R Us may announce some closures in the future, there's no need to panic just yet.

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