Toys R Us

New Jersey and Texas locations will be smaller than former locations, eight more planned by end of 2020

Lenders hope new company will maintain licensing agreements and eventually invest in new retail stores

Bratz owner MGA Entertainment has submitted a bid to acquire toy retailer's profitable Canadian arm

Bankrupt retailer's already grim outlook has taken a turn for the worse, hopes fading for acquisition or debt restructuring

News follows closure of 182 American locations last month

Closures represent almost 21% of American locations for bankrupt retailer, expected to take place in mid-April

Play Chase being trialled in 23 US locations before going national later this month

Retailer voluntarily seeks Chapter 11 protection, intends to continue business as normal during process

Toys R Us has a 7-inch "kid's tablet", Ainol introduces the $139 Novo 7

Retailer reports 14.5 per cent drop for entertainment and gaming category

Entertainment sector continues to decline for retailer

Retailers blame slow demand for systems and software in Q2