Worldwide Toys R Us files for bankruptcy protection
Bloomberg News reports Toys R Us, burdened by over 5 billion dollars in debt and annual service costs above 400 million, filed for bankruptcy protection. The chain, operating about 1,695 stores including Babies R Us, hinges on manufacturers Mattel Hasbro MGA and others to avoid collapse, while promising continued operations and online activity. Stores in Cedar Rapids Williamsburg Davenport Council Bluffs and Des Moines face uncertain futures, with suppliers propping up the chain to maintain toy sales at all price points. Major brands back a loyal, store-heavy model as rivals waver in a shifting retail landscape.
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Bitmoji obsession grows as Snap faces investor pressure
Anokha Desai joins millions updating her Bitmoji avatar to reflect new hair and outfits, a trend that has made Bitmoji a top downloaded app and a dominant form of self expression. Snap Inc. bought Bitstrips for over 64 million, but investors seek higher ad revenue and user growth amid uncertain Bitmoji revenue potential.
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