Online toy retailer EToys filed for Chapter 11 bankruptcy protection Wednesday, according to wire reports.
The move was expected, coming after the Los Angeles-based company failed to find a buyer or partner in a strategic alliance. Papers filed in the U.S. Bankruptcy Court in Delaware listed the company’s assets at $416.9 million and debts of $285 million, according to Reuters.
EToys’ Web site (http://www.etoys.com) touted sale prices of 50% and 75% on a wide variety of merchandise as of mid-day Wednesday.
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