Toys giant Toys R Us is set to become a public company again with plans to float for $800m (£548.6m).

The retailer, which has 1,363 stores in 34 countries, including 75 in Britain, said it hopes to use some of the money raised to pay off a portion of its debt. It also wants to expand its stores and online presence. The float, on the New York Stock Exchange, would be one of the largest retail initial offerings for several years.

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