FINANCE

While today's decision does not necessarily mean it is game over for Toys "R" Us, it brings to a close a turbulent chapter in the iconic company's history.   A combination of high debt and severe structural changes in the industry created a toxic mix against which Toys "R" Us had little choice but to restructure and try to put itself on a firmer footing.  

It's looking increasingly likely that Toys "R" Us may turn to Chapter 11 bankruptcy protection as a way to deal with its massive debt load.    With about $400 million of its $5 billion debt coming due in 2018, the struggling toy retailer could file for bankruptcy as soon as this week, CNBC reported. https://www.cnbc.com/2017/09/18/toys-r-us-could-file-for-bankruptcy-as-soon-as-this-week-sources-say.html  

Love’s Travel Stops & Country Stores is expanding its footprint.   The chain has reached an agreement to purchase Speedco, a national network of trucking-focused service locations from Bridgestone Americas.    Speedco has 52 locations. The acquisition will bring the number of Love’s operated tire service and lube facilities to 323. Terms of the deal, subject to regulatory approval, were not disclosed.   

Walgreens Boots Alliance is reportedly tweaking its previously announced deal with Rite Aid Corp.  

Consumers were cautious in their spending during the summer months.   Retail sales in August decreased by 0.2% from July on a seasonally adjusted basis, according to the National Retail Federation. (The NRF numbers exclude automobiles, gasoline stations and restaurants. Also, the Commerce Department said data for July was revised to show sales increasing 0.3% instead of the previously reported 0.6% jump.  

Gap Inc. CEO Art Peck is refocusing the 3,000-store company on the areas with the biggest potential for driving growth — and they do not include its oldest divisions.   “We’re certainly not giving up on Gap or Banana [Republic], but we’re acknowledging the world continues to change,” Peck said in an interview with Bloomberg.  “And those are the two most mature brands in the portfolio.”  

Women's footwear brand Aerosoles has filed for Chapter 11 bankruptcy protection as it looks to shutter nearly all of its U.S. stores.   The company has about 80 stores in the United States, and also sells its shoes through other retailers. It has begun store closing sales and is seeking approval from the Bankruptcy Court to proceed with the sales. Aerosoles said it plans to maintain four flagships, in New York and New Jersey, and will also enhance its e-commerce, wholesale and international businesses.    

West Marine has gone private.    Monomoy Capital Partners announced Thursday that it has successfully completed the acquisition of West Marine for approximately $337 million, or $12.97 per share. The transaction was originally announced at the end of June.