Not saying chapter 7 won't happen, but the article (link below) makes sense. I think the media as usual is pushing the story. I don't work for Toys, but I am a retail manager for another company that is also struggling . I really feel for all you guys and I hope your company can turn this around. I wish all of you the best during this stressful time.
https://seekingalpha.com/amp/article/4155929-updating-toys-r-us-limited-impact-retail-reits
The origin of the stories from a few days ago was a Bloomberg report with anonymous sources about things that "could" happen. This went wild for a few days and over the weekend, along with additional speculation about what "could" happen. Sunday I saw stories that "it could be Monday". "Could be" is not a fact. I do wish that more places were reporting what has actually happened, instead of what could happen.
Now, having said that, there are reports this morning all UK operations are shutting down. There's has been no additional info out of corporate. It doesn't look good - but we have to wait to see what's going to happen.
Easy for the media and general public to run wild with speculation when Toys R Us is refusing to communicate with them, or their own employees for that matter.