Exterior of retail store A Toys “R” Us storefront. The retailer, founded in 1957, operates more than 1,600 locations worldwide.

RICHMOND, VA—Toys “R” Us Inc. on Tuesday sought court approval for debtor in possession financing at US Bankruptcy Court for the Eastern District of Virginia here. The toy retailer filed for Chapter 11 protection Monday night, the latest of several chains to go that route in 2017.