Global toys-to-bikes retailer Toys R Us has been bought for $6.6bn by a consortium made up of two private equity firms and a retail developer.

Wal-Mart wary TRU sold for £3bn

Toys R Us has 685 toy stores in America and 603 overseas.

It has been ailing for some time, largely because of the might of Wal-Mart.

The chain has been bought, in an auction that took seven months, by private equity firms Bain Capital LLC and Kohlberg Kravis Roberts & Co, and developer Vornado Realty Trust.

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