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UpInArms

(55,430 posts) Wed Jan 24, 2018, 02:29 PM Jan 2018

Toys 'R' Us Is Closing 180 U.S. Stores After Declaring Bankruptcy [View all]

Source: Fortune

Toys “R” Us Inc. is planning to close about 180 U.S. stores as part of a reorganization plan to emerge from its September bankruptcy, according to a court filing.

The move to shutter about 20 percent of its U.S. store base, which needs court approval, comes four months after the world’s largest toy chain filed for protection from its creditors, a response to years of lackluster results and an unsustainable $5 billion debt load. The closures will begin next month, with Babies “R” Us locations accounting for at least half.

In December, Bloomberg News reported that the retailer would close as many as 200 stores.

Toys “R” Us had a challenging Christmas shopping season in the U.S. and overseas, Chief Executive Officer Dave Brandon wrote in a letter to employees that was obtained by Bloomberg News. While the bankruptcy hurt customer confidence and disrupted other parts of the business, the company has made operational mistakes that need to be fixed, he said.

Read more: http://fortune.com/2018/01/23/toys-r-us-close-stores-bankruptcy/

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Toys 'R' Us Is Closing 180 U.S. Stores After Declaring Bankruptcy [View all] UpInArms Jan 2018 OP

Kids don't want toys anymore - they want new cell phones and tablets from Amazon n/t Baclava Jan 2018 #1

Anything ToysRUs can carry, Amazon carries too, pretty much. AtheistCrusader Jan 2018 #2

Of course they want toys obamanut2012 Jan 2018 #4

yeah, that's more what I was saying - "specialty stores" for kids toys are pretty much dinosaurs n/t Baclava Jan 2018 #7

Especially over priced toys in a high rent mall space. marble falls Jan 2018 #14

Retail is dying, slowly but surely. Still In Wisconsin Jan 2018 #3

I know how you feel. I still like to try things on, flip throw a book.. turn things around, etc riversedge Jan 2018 #8

I hate buying stuff via Amazon or computer. BigmanPigman Jan 2018 #21

Buying clothes online PSPS Jan 2018 #24

I hope they don't close the haunted one. :) C Moon Jan 2018 #5

Vulture capitalists are the culprit behind the Toys'R'Us demise and many more to come rurallib Jan 2018 #6

There has never been a good LBO jmowreader Jan 2018 #9

You Said A Mouthful ProfessorGAC Jan 2018 #13

Another atrocity: The LBO industry created the mortgage crisis jmowreader Jan 2018 #22

THIS BumRushDaShow Jan 2018 #10

I was just thinking about KB Toys also as I read this. Kittycow Jan 2018 #11

The Toys R Us near me BumRushDaShow Jan 2018 #16

Very important point. Similar to what Shkreli was doing in Pharma. Wring every last penny out of suffragette Jan 2018 #12

Doesn't it give you some pleasure to know Shkreli has been cooling his heels in stir waiting to.... marble falls Jan 2018 #15

Im glad justice is being done in his case. Need more of that. Great piece here by Reich about suffragette Jan 2018 #19

Thanks for posting Strelnikov_ Jan 2018 #31

Yep - the MSM already has a narrative out there of internet stores and all that crap rurallib Jan 2018 #32

We are all getting SO TIRED OF WINNING. bullwinkle428 Jan 2018 #17

havent been there for over a decade but thier products were overpriced IMO lunasun Jan 2018 #18

Sure were!! FiveGoodMen Jan 2018 #25

It's a wasteful system bucolic_frolic Jan 2018 #20

I'd go to a Mom and Pop toy store if I could find one. LisaM Jan 2018 #28

Toys R Us is arranged by commercial tie ins too crazycatlady Jan 2018 #33

Figures. LisaM Jan 2018 #34

The rent is too damn high! Blue_Adept Jan 2018 #23

Toys R Us did it to themselves. RandySF Jan 2018 #26

That's too bad. There used to be one right by our house and I shopped at it. LisaM Jan 2018 #27

The only retail job I ever had was toys r us at Christmas my freshman year in college kimbutgar Jan 2018 #29

There will always be a place for toy stores, but not ones undercut by Target and Walmart. SunSeeker Jan 2018 #30

Here's a list: hunter Jan 2018 #35