Retail giant Toys 'R' Us has filed for bankruptcy protection in the US and Canada after struggling amid mammoth debts and online competition - but the High Wycombe store still looks set to go ahead. 

The group, which has around 1,600 stores worldwide and 64,000 employees, said its stores outside of the US and Canada - including the UK and Europe - will not be affected.

This means the planned opening of Toys 'R' Us in The Eden Shopping Centre is still due to go ahead next month. 

It comes ahead of the all-important Christmas season, which makes up around 40 per cent of the group's annual sales.

Dave Brandon, chairman and chief executive of Toys 'R' Us, said: "We are confident that we are taking the right steps to ensure that the iconic Toys'R'Us and Babies'R'Us brands live on for many generations."

Toys'R'Us has suffered falling like-for-like sales for three quarters in a row and reported a quarterly net loss of 164 million dollars (£121 million) on sales of 2.2 billion dollars (£1.6 billion) in June.

The group's history dates back to the 1950s, but it arrived in the UK in 1985 with just five stores and now has 110 stores across the UK.