Toys’R’Us files for bankruptcy

 

New York (AFP) – Global retailer Toys”R”Us, a fixture in post-war America’s booming toys market, said it has filed for Chapter 11 bankruptcy protection, strangled by heavy debt and a tough environment for bricks and mortar stores.

The chain, founded in 1948 and “the world’s leading dedicated toy and baby products retailer”, sells in the United States and 38 other countries and jurisdictions, with a 23-percent share of the global toy market.

It now joins other traditional retailers that are struggling to compete with the likes of Amazon.

The company will “restructure its outstanding debt and establish a sustainable capital structure that will enable it to invest in long-term growth and fuel its aspirations to bring play to kids everywhere and be a best friend to parents,” Toys”R”Us said in a statement late Monday.

It noted that operations outside the United States and Canada, “including its approximately 255 licensed stores and joint venture partnership in Asia,” are not part of the bankruptcy proceedings.  read more

SNIP: Most of the Toys R Us I’ve been to or heard about should have their own “People of Toys R Us”  meme. This is probably the only chain of stores I know of that has more shoplifting and muggings than sales during the Christmas rush.

16 Comments on Toys’R’Us files for bankruptcy

  1. Amazon is sending many businesses into trouble. I both like and hate them, they’re convenient and your’re able to locate things you may not find locally but they can be slippery. Their rating system is a joke so you can have near as many boxes coming and going.

  2. I dare you to find anything they sell that doesn’t include the Made In China label.

    So glad my kids have given up on cheap plastic toys. I knew every time I bought one, it was just packaged garbage that ends up in the garbage 6 months later.

  3. I raised three kids up through the Toy Years. I can count on one hand the number of times I went there, one finger the number of times I bought there. The Boomer-oriented business model is dead on the youngster end and dying on the other end with the old hippies.

  4. BTW, Hobby Lobby has a nice little toy and hobby section, with a perpetual 40% off coupon for one item. If you can see your way past the racist fake cotton bolls.

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