Chapter 11

The retail landscape has changed dramatically in recent years, and Toys R Us has been trying to maintain its foothold in the industry amid a heavy debt load and the rise of online shopping.

Late Monday, the largest U.S. toy chain filed for Chapter 11 bankruptcy protection in Richmond, Va. The move had been expected.

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Five local Payless stores will be closing, as the shoe chain is the latest to chafe financially because of the continuing consumer shift from in-store shopping to online retailing.