Goodbye Toys 'R' Us

[sean miguel]

March 14, 2018 / 2:51 PM / Updated 6 hours ago

Toys 'R' Us plans to close all U.S. stores; 33,000 jobs at risk: source


(Reuters) - Bankrupt Toys ‘R’ Us Inc is preparing to sell or close all 885 stores in its U.S. chain, risking up to 33,000 jobs, after failing to reach a deal to restructure billions of dollars in debt, a person familiar with the matter said on Wednesday.

With shoppers flocking to online platforms like Amazon.com Inc (AMZN.O) and children choosing electronic gadgets over toys, Toys ‘R’ Us has struggled to service debt from a $6.6 billion leveraged buyout by private equity firms KKR & Co LP (KKR.N) and Bain Capital and real estate investor Vornado Realty Trust (VNO.N) in 2005.

Toys ‘R’ Us had been closing one-fifth of its U.S. stores as part of efforts to emerge from one of the largest ever bankruptcies by a specialty retailer.

But creditors decided they can get more from liquidating assets of the toy seller, the largest in the United States and one of the best known in the world, rather than finding a way to keep the business alive, the person said, speaking on condition of anonymity to discuss the private negotiations.

A Toys ‘R’ Us spokeswoman declined to comment.

The company is expected to make a filing with the bankruptcy court late on Wednesday, the person said.

https://www.reuters.com/article/us-...tores-33000-jobs-at-risk-source-idUSKCN1GQ36S


The end of an era. I was a Toys-R-Us kid "I don't wanna grow up" which is probably why I haven't.

Like the article says, kids now would rather interact with something on screen than playing with quaint toys. And Amazon can provide whatever you want and will have it at your doorstep in an hour and will even let themselves in, if you'd like.

 

[FreeOnes_Adam]

They were expensive when I was a kid. They got worse as I grew up, and that is why they failed.

Amazon is a monster for retail, let me tell you. But Toys R Us' high prices is what really did them in. MSRP is a suggestion, not a biblical demand.


But seriously. People compained about WalMart killing small business. Nope. WalMart is easy to deal with. They sell at MSRP, and some stuff is over. Amazon is pretty much evil.

 

[sean miguel]

Yeah, Walmart just killed them during the holiday seasons with lower prices. It's hard to believe now, but in 2005, Amazon wasn't posting a profit and was nowhere near the juggernaut it is now. That was the year Toys R Us was bought out by private equity firms and just didn't have the capital available to innovate or advance it's online presence which e-commerce was still budding at that point (gawd, where has the time gone?) The rise of Amazon was the final nail in the coffin.

So there goes Toys R Us to join Circuit City, Radio Shack, Borders, etc. I wonder who's next? Who's left?

 

[Will E Worm]

Blame the Obama economy.


Amazon needs to be taxed like any other business.

 

[~~whimsy~~]

The articles I read will close or be sold.

Either way I agree about the high prices. There was a lot of video game and movie stuff I'd love to buy there but I could easily find it cheaper elsewhere or online.

And it killed me walking down the Lego aisle.

 

[ChuckFaze]

So there goes Toys R Us to join Circuit City, Radio Shack, Borders, etc. I wonder who's next? Who's left?

Hmmmmm ... didn't I hear the other day on the News that Amazon is experimenting with BANKING? :shock: :eek: I'm not sure in what capacity, but I think they were gonna be working together with some banks or something along those lines. So who knows? In 3 to 5 years there might be just ONE bank!

They don't have an Amazon Burgers & Tacos chain yet, do they?

 

[ChuckFaze]

What about PORN? Maybe in 2 years Amazon will the global 1-Stop source for all porn. No more FreeOnes ... just AmazonOnes.

 

[~~whimsy~~]

What about PORN? Maybe in 2 years Amazon will the global 1-Stop source for all porn. No more FreeOnes ... just AmazonOnes.

No more FreeOnes_Adam

Amazon will have him murdered and change him to the new and improved: FreeOnes_Adamazon

 

[BCT]

IIRC they had a cartoon Giraffe as the mascot, right?

 

[John_8581]

What about PORN? Maybe in 2 years Amazon will the global 1-Stop source for all porn. No more FreeOnes ... just AmazonOnes.

Not Amazon. Think Manwin/Mindgeek/Brazzers! They acquire... acquire ... acquire!

 

[Little Red Wagon Repairman]

RIP Toys R Us. I hope parents break the news gently to their kids then take them on a toy shopping spree to Target.

 

[sean miguel]

What about PORN? Maybe in 2 years Amazon will the global 1-Stop source for all porn. No more FreeOnes ... just AmazonOnes.

Amazon does sell sex toys (so I've heard). It's tucked away in their "health and wellness" category

If I had a couple of billion dollars to burn, I'd like to challenge Amazon on that front. I'd acquire Toys 'R' Us and with just a slight rebranding, Sex Toys 'R' Us would be the world's preeminent one-stop shop for him and her. Heck, keep the giraffe mascot for nostalgia sake.

 

[Will E Worm]

 

[sean miguel]

Sex Toys 'R' Us would be the world's preeminent one-stop shop for him and her.

*his and hers?

fuck it, the english language is stupid and inconsistent.

 

[Jack Davenport]

I maybe bought 2 items from that place over the years. I always seemed to find better deals elsewhere. Won’t miss it one bit.

 

[Will E Worm]

I maybe bought 2 items from that place over the years. I always seemed to find better deals elsewhere. Won’t miss it one bit.

So, you want America's businesses to go bankrupt?

:nono:

 

[~~whimsy~~]

I don't want to grow up

I wanna be a close out kid!

 

[Jack Davenport]

So, you want America's businesses to go bankrupt?

:nono:

I bought from other brick and mortar stores at the time. They are America’s businesses too.
Toys R’ Us are very expensive.

 

[Mr. Daystar]

I bought from other brick and mortar stores at the time. They are America’s businesses too.
Toys R’ Us are very expensive.

I try to shop the "mom & pop" stores myself. Chains aren't loyal to their employees, they'll cut 'em loose in a nano second, just for a buck. But you know how Will is, always ready to spew his bullshit, even with a mouthful of his own foot.

 

[darkwarrior3007]

I worked at Toys R Us for 8 years in two different stores, until they closed the 2nd store I was at in Jan. 2008. I'm not surprised at all by any of this and I said then, that they were on their last legs. To my surprise, they lasted 10 more years. I don't feel sorry for them, I feel sorry for the employees, who now won't get their severance packages due to the bankruptcy.