Central New York has lost a number of large retailers in the past few years, including Gander Mountain, Kmart and Circuit City. Now, another big store has filed for bankruptcy protection...and experts say the future doesn't look good.

Toys R Us, the huge toy retailer, located on Commercial Drive in New Hartford, has filed for bankruptcy protection. According to Reuters, Toys R Us is the second largest toy seller, behind Amazon.

Bloomberg reports that Toys R Us is having difficulties as a result of staggering debt, and retail struggles brought on by online shopping and discount stores.

The company says it has not made any plans to close stores at this time.

“Like any retailer, decisions about any future store closings – and openings – will continue to be made based on what makes the best sense for the business,” Michael Freitag, a spokesman for Toys “R” Us, said in an email to Bloomberg

The Toys R Us on Commercial Drive includes a Babies R Us, as well.


BONUS VIDEO: