Toys R Us to file for bankruptcy the company is in crisis

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gregjrichards

gregjrichards

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"Toys “R” Us Inc., which has struggled to lift its fortunes since a buyout loaded the retailer with debt more than a decade ago, is preparing a bankruptcy filing as soon as today, according to people familiar with the situation.

The Chapter 11 reorganization of America’s largest toy chain would deal another blow to a brick-and-mortar industry that’s already reeling from store closures, sluggish mall traffic and the threat of Amazon.com Inc.

Filing for bankruptcy would allow Toys “R” Us to restructure $400 million in debt that comes due next year, potentially letting the chain rebuild as a leaner organization. The retailer has hired a claims agent, which typically helps with administering such a process, people with knowledge of the situation said last week. And its vendors have been curtailing shipments amid concern that Toys “R” Us might not be able to pay its bills."

https://www.bloomberg.com/news/arti...id-to-plan-bankruptcy-filing-as-soon-as-today

This news is very sad it is one of the few toy stores left. I feel very sorry for the staff who must be worried about their jobs.
 
gregjrichards said:
"Toys “R” Us Inc., which has struggled to lift its fortunes since a buyout loaded the retailer with debt more than a decade ago, is preparing a bankruptcy filing as soon as today, according to people familiar with the situation.

The Chapter 11 reorganization of America’s largest toy chain would deal another blow to a brick-and-mortar industry that’s already reeling from store closures, sluggish mall traffic and the threat of Amazon.com Inc.

Filing for bankruptcy would allow Toys “R” Us to restructure $400 million in debt that comes due next year, potentially letting the chain rebuild as a leaner organization. The retailer has hired a claims agent, which typically helps with administering such a process, people with knowledge of the situation said last week. And its vendors have been curtailing shipments amid concern that Toys “R” Us might not be able to pay its bills."

https://www.bloomberg.com/news/arti...id-to-plan-bankruptcy-filing-as-soon-as-today

This news is very sad it is one of the few toy stores left. I feel very sorry for the staff who must be worried about their jobs.
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It is terribly sad as a kid who grew up as a Toys R Us kid, but as a mom I'm not surprised. Their prices were always more than Walmart and target and they aren't conveniently located like most Walmart and target stores. Still a bummer though I always loved taking my kids there when they were younger.
 
No way!
so maybe BabiesRUs is in trouble too
 
I donèt know about in the States but these stores are HUGE big box stores here
they would leave a big hole in modern shopping structures
 
I think I've only been in one of their stores twice and both times was confronted by wall to wall Chinese-made plastic tat.

But then, that seems to be what passes for toys these days so I doubt any other stores would be different.
 
Unfortunately the company and stores are just not what they used to be in my childhood.

Our nearest one, in Edinburgh is really tiny and frankly rubbish, two minutes walk away is a massive Smyths toys.
 
It kind of makes me sad. I hated going to Toysrus sometimes, with my kids because the store is so huge and they would get overwhelmed and want everything and nothing at the same time...lol

But now that we have our first grandchild, I really enjoy going to toysrus and spoiling her with toys I can leave at their house and not have to listen to or try to fix the next day when she breaks it.
 
Toys ‘R’ Us Seeks Chapter 11 Bankruptcy Protection Amid Retail Turmoil
by Reuters

Toys 'R' Us, the largest U.S. toy store chain, has filed for bankruptcy protection in the latest sign of turmoil in the retail industry struggling with the growth online shopping and discount chains.

The Chapter 11 filing is among the largest ever by a specialty retailer and casts doubt over the future of its about 1,600 stores and 64,000 employees. It comes just as Toys 'R' Us is gearing up for the holiday shopping season, which accounts for the bulk of its sales.

"While today's decision does not necessarily mean it is game over for Toys 'R' Us, it brings to a close a turbulent chapter in the iconic company's history," said Neil Saunders, managing director of GlobalData Retail...

https://www.nbcnews.com/business/bu...-11-bankruptcy-protection-amid-retail-n802546
 
Toys “R” Us set to return

A new majority owner for the parent company of Toys “R” Us wants to open the toy store’s doors again, hoping to open a number in North America ahead of the holiday season.

The brand management company WHP Global announced Monday it has acquired a controlling interest in Tru Kids, the parent company of the Toys R Us, Babies R Us and Geoffrey the Giraffe brands.
 
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