Fog Blog Retail Business Log:

TOYS 'R' US HAS FILED FOR CREDIT PROTECTION, SO ITS TIME TO COME TO A CLOSE ...''I'M A TOYS 'R' US KID'! ALL AMERICAN AND BRITISH STORES ARE CLOSING....ODDLY ENOUGH THE CANADIAN ARM IS DOING FAIRLY GOOD AND WILL CONTINUE FOR NOW! TOYS 'R' US HAS BECOME INSOLVENT AND WASN'T ABLE TO EXTEND CREDIT TO PAY ITS BILLS!......Toys "R" Us is in talks to sell its entire Canadian business as it works to shutter its 70-year-old U.S. operations, but analysts are skeptical about the future of the brick-and-mortar toy retailer's existing business model.The company confirmed Thursday it is in "active discussions regarding a transaction that would result in an acquisition of the entire Canadian business," as the U.S. company seeks approval in its bankruptcy proceedings for the sale of its equity interest in the Canadian business.The statement came a day after California-based toy company MGA Entertainment confirmed its CEO Isaac Larian and affiliated investors have made a bid for the Toys "R" Us Canada operations."Toys 'R' Us Canada is a good business," Larian said in a statement. "They run it efficiently, and have good leadership. At the right price, it makes economical sense."Toys "R" Us CEO David Brandon has said the company will try to bundle its Canadian business with about 200 U.S. stores as it looks to find a buyer, but the MGA spokesperson declined to provide details on how much of the business Larian has made a bid for.