With its spacious, high-ceiling stores that hold thousands of items, Toys R Us pioneered the big-box format for toy sales and became the go-to destination for playthings and baby products — elbowing many smaller toy stores out of business.
Now, Toys R Us Inc. has tumbled into bankruptcy, filing late Monday night for Chapter 11 protection.
But Toys R Us isn’t a simple example of another conventional retailer being steamrolled by consumers’ radical shift to online shopping. Its survival won’t be simple, either.
The retailer said it will keep operating as usual and continue getting toys from suppliers as the crucial holiday shopping season nears, helped by $3 billion in...