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Toys R Us to file for bankruptcy

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  • knight errant00
    8 Inch Action Figure
    • Nov 15, 2005
    • 1766

    #76
    So, I have no personal childhood love for TRU. When I was a kid, it was simply visiting the toy sections of stores like Target and JC Penney's, or at the department stores like Famous-Barr and Stix, Baer & Fuller (where the toys were overpriced but man, they had everything and in nice displays!) -- and most of those places are already gone (although, I can still remember the excitement of discovering the Mego WGSH at Target when I was around 7). We didn't get a toy-only store in the area until a place called Toy Chest opened when I was around 10 or 11, and that was a place of wonder that went out of business when I was in college. We got Children's Palace a year or two after Toy Chest, and they closed shortly after I was married and bought a house (which, serendipitously, was 5 minutes away). I looked forward to someday taking kids there, but then they closed.

    I don't recall when TRU opened here I think I might have been in high school or even college. The only memories of it I have are of taking my son there, especially when he was a toddler, and of going on the hunt there for whatever the Christmas or birthday "it" toy was that year (Bionicle really stands out). But given he's graduating college in a couple months, it's been a while since I've done that, either.

    I find it mostly sad for kids going forward, because they don't have these places to visit and be wowed or discover something they've never seen but love the way I did the WGSH. It's all looking at pictures online -- almost like the Sears Wishbook, but, really, not nearly as much fun.
    Last edited by knight errant00; Jan 29, '18, 9:50 PM.

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    • Teemu
      Persistent Member
      • Dec 15, 2010
      • 1742

      #77
      There is no "wow" factor anymore at TRU....the glory days of TRU (80's and 90's) are over and have been over for quite a while.

      Comment

      • ScottA
        Original Member
        • Jun 25, 2001
        • 12264

        #78
        Ours actually made the cut, which surprised the heck out of me. It must be over 30 years old and never has the newest stuff. In fact , we don't even have a "collectibles" section.

        But I would sure miss it if it was gone.

        The one in Huntsville and one of the two in Birmingham got chopped. I'm tempted to make a run to B'ham when the clearance sales start.
        sigpic WANTED: Boxed, Carded and Kresge Carded WGSH

        Comment

        • phil
          Persistent Member
          • May 11, 2007
          • 2078

          #79
          Has a date for the start of the clearance sale been announced?

          Comment

          • Iron Mego
            Wake Up Heavy
            • Jan 31, 2010
            • 3532

            #80
            Went tonight and it looked just like it did the last time I was there about five months ago. Fully stocked for the most part, and actually pretty dang clean. I figured it was going to be a pig sty. Didn't ask when they were closing, but I know my daughter and I will go back before then.
            Wake Up Heavy Podcast

            Find me on Twitter

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            • Sideshow Spock
              valar morghulis
              • Mar 8, 2005
              • 2850

              #81
              TRU will be closing another 200 stores (possibly more) in addition to the closings previously announced. They have not yet released a list of the new closings..

              In total, the closings will represent 45% of TRU's US stores.

              Executives to receive bonuses, while thousands of workers have been told not to expect severance

              Comment

              • jimbutsu
                Memory *is* RAM!
                • Apr 11, 2002
                • 4158

                #82
                Well, that makes things interesting... the one near me was on the list of closures, but I went in there last week and signs were plastered on the doors saying "Pleased to announce this location is NOT closing" -- apparently it was a store that performed pretty strong but their lease was coming up, so even with good numbers they were an easy cut. Landlord heard this and immediately came to the table with a really attractive lease (this makes sense if the landlord is in the business of leasing retail space while brick-and-mortars are shuttering left and right).

                So now I have a store near me that was closing, now isn't closing, but might again be closing... I wonder if having decent numbers and a new, favorable lease will be enough to keep it afloat...
                "If you take a dog which is starving and feed him and make him prosperous, that dog will not bite you. This is the primary difference between a dog and a man."

                - Mark Twain

                Comment

                • MRP
                  Persistent Member
                  • Jul 19, 2016
                  • 2036

                  #83
                  Things got a little grimmer for Toys R Us today according to an article at Bloomberg https://www.bloomberg.com/news/artic...u-s-operations

                  Toys ‘R’ Us Is Prepping to Liquidate Its U.S. Operations
                  March 8, 2018, 4:15 PM EST
                  Retailer entered bankruptcy last year with $5 billion in debt
                  Toys “R” Us Inc. is making preparations for a liquidation of its bankrupt U.S. operations after so far failing to find a buyer or reach a debt restructuring deal with lenders, according to people familiar with the matter.

                  While the situation is still fluid, a shutdown of the U.S. division has become increasingly likely in recent days, said the people, who asked not to be identified because the information is private. Hopes are fading that a buyer will emerge to keep some of the business operating, or that lenders will agree on terms of a debt restructuring, the people said.

                  The toy chain’s U.S. division entered bankruptcy in September, planning to emerge with a leaner business model and more manageable debt. A new $3.1 billion loan was obtained to keep the stores open during the turnaround effort, but results worsened more than expected during the holidays, casting doubt on the chain’s viability.The situation has also deteriorated for many of the retailer’s overseas divisions, which weren’t part of the bankruptcy. Toys “R” Us’s U.K. unit put itself in the hands of a court administrator after discussions about selling the business fell apart. Its European arm is seeking takeover bids. And talks are being held to offload the growing Asian business, the company’s most profitable arm. It’s not yet clear what will happen to the Canadian unit, which filed at the same time as the U.S. division.

                  A representative for Wayne, New Jersey-based Toys “R” Us declined to comment.

                  Read more about America’s retail apocalypse

                  The news sent shares of the biggest toymakers tumbling in late trading. Mattel Inc. fell as much as 6.1 percent, while Hasbro Inc. declined 3 percent.
                  -M
                  "Opinion is the lowest form of human knowledge. It requires no accountability, no understanding." -Plato

                  Comment

                  • Sideshow Spock
                    valar morghulis
                    • Mar 8, 2005
                    • 2850

                    #84
                    Originally posted by MRP
                    Things got a little grimmer for Toys R Us today according to an article at Bloomberg
                    ☹️

                    Comment

                    • Earth 2 Chris
                      Verbose Member
                      • Mar 7, 2004
                      • 32498

                      #85
                      I guess Mattel and Hasbro aren't going to step in as advertised, or if they did...it didn't really help?

                      Chris
                      sigpic

                      Comment

                      • MRP
                        Persistent Member
                        • Jul 19, 2016
                        • 2036

                        #86
                        http://money.cnn.com/2018/03/09/inve...tel/index.html

                        CNN is reporting TRU could cease operations as early as next week.

                        -M
                        "Opinion is the lowest form of human knowledge. It requires no accountability, no understanding." -Plato

                        Comment

                        • EmergencyIan
                          Museum Paramedic
                          • Aug 31, 2005
                          • 5470

                          #87
                          Sheesh. Talk about going from bad to worse in a hurry!

                          - Ian
                          Rampart, this is Squad 51. How do you read?

                          Comment

                          • Mr.Marion
                            Permanent Member
                            • Sep 15, 2014
                            • 2733

                            #88
                            I haven't gone to one in years, but I feel sorry for the people who will lose their jobs and of course the future kids who won't get to see a brick and mortar toy store.

                            Comment

                            • Ivaniski
                              Persistent Member
                              • Jun 24, 2007
                              • 1406

                              #89
                              I have an IQ of a house roach.....But, it seems to be "CURTAINS" for toys 'r' us for sure. Gonna miss my favorite toy store.
                              Last edited by Ivaniski; Mar 9, '18, 5:59 PM.

                              Comment

                              • Hector
                                el Hombre de Acero
                                • May 19, 2003
                                • 31852

                                #90
                                ................
                                Last edited by Hector; Mar 9, '18, 9:19 PM.
                                sigpic

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