Toys ‘R’ Us Is Said to Ready Liquidation of U.S. Operations

[Khoufu]

I know major TCG like Yugioh got pulled already, even at my location, which apparently isn't closing for the foreseeable future.

[reanna-mator]

Pretty bummed, but mostly because there are actually a handful at my local TRU that I'm friendly with, and who know me as "the pony lady." I will probably go even though there isn't much pony stuff I have my eye on. If prices get low enough I might go for it anyway, and there are plenty of other brands I'm interested in.

For my store, a sign stated that the sale's starting was postponed, possibly to tomorrow.

[Khoufu]

Mine said that sales would start tomorrow instead of today.

At least I got to talk briefly to a parent buying ponies for her kid and we reminisced about G1.

[Kiwichi]

They have temp stopped/postponed the liquidation sale.  I would advise you call before heading out to your tRU.  Check out the latest news on tRU wowzers!


"A go-fund-me page has been set up and you can donate to the #SaveToysRUs GoFundMe campaign and help them out.
This campaign received an initial donation of $200 million from Isaac Larian (the CEO of MGA Entertainment) and affiliated investors. So now they just need another $800 million by May 28th.  (They need a mere $1 billion by Memorial Day, May 28, 2018!)"


...Look at the freebies tier for donations!

"$5-$49 pledge: #SaveToysRUs bumper sticker
$50-$99 pledge: #SaveToysRUs bumper sticker AND #SaveToysRUs Special Edition Num Noms
$100-$499 pledge: #SaveToysRUs bumper sticker, pin, AND #SaveToysRUs Special Edition L.O.L. Surprise!
$500-$999 pledge: #SaveToysRUs bumper sticker, pin, magnet, AND customized #SaveToysRUs Special Edition Little Tikes Cozy Coupe
$1,000-$4,999 pledge: #SaveToysRUs bumper sticker, pin, magnet, “I’ll ALWAYS be a Toys“R”Us Kid” t-shirt AND Little Tikes Build-a-House
$5,000-$9,999 pledge: #SaveToysRUs bumper sticker, pin, magnet, “I’ll ALWAYS be a Toys“R”Us Kid” t-shirt, AND Little Tikes Super Slam ‘n Dunk
$10,000-$24,999 pledge: #SaveToysRUs bumper sticker, pin, magnet, “I’ll ALWAYS be a Toys“R”Us Kid” t-shirt, invite to a local Toys“R”Us reopening block party AND a Little Tikes backyard makeover
+ More!"

[banditpony]

I was hopeful about MGA Entertainment trying to purchase the brand/assets, but now I'm sort of doubtful with the whole crowdfunding thing. That's just weird.

[sd_dreamcrystal]

I'm a bit doubtful of the crowd funding too. It's pretty much only an attempt to postpone the inevitable

[Wardah]

I was hopeful about MGA Entertainment trying to purchase the brand/assets, but now I'm sort of doubtful with the whole crowdfunding thing. That's just weird.

This is separate from the deal for the Canadian branch and 200 US stores. I do understand that 200 is a steep drop from the former 800 so I can understand why they would try to save more but at this point anything is better than nothing.

[achab1984]

Well this is very interesting! I wonder what will happen? I am pretty sad to see that another store might be gone forever!

[banditpony]

I was hopeful about MGA Entertainment trying to purchase the brand/assets, but now I'm sort of doubtful with the whole crowdfunding thing. That's just weird.

This is separate from the deal for the Canadian branch and 200 US stores. I do understand that 200 is a steep drop from the former 800 so I can understand why they would try to save more but at this point anything is better than nothing.

Oh it is?

It seems odd that Larian would pursue it in two directions. It doesn't say store numbers at all, it just says "some assets".  Which, to me, is also fine... anything is better than nothing.


9_9 Ugh, read through 3 more articles to find that info. Still feel pretty meh about crowdsourcing. I'm glad the canada TRU thing is a different thing.

[Taffeta]

The whole TRU Canada thing makes sense. It makes sense because Canadian TRU seems to be doing ok and not in the same financial trouble as in the US. And if they can work a deal to include 200 US stores as well, brilliant.

The crowdfund thing...if I were staff at TRU I would be so uneasy about that, because it's so uncertain. The MGA guy has a vested interest in getting TRU back open but it doesn't seem concrete. It's an amount that may settle a debt but what happens then going forwards? What branches are at risk? What jobs will still go?

If I were TRU staff, I'd be hoping for the TRU Canada thing to save 200 stores and then for KB's resurrection to take care of the rest in terms of laid of staff.

The crowdfunding seems like an unnecessary complication which could potentially scupper the other deal if not careful. I mean, surely the crowdfunding money would also seek to buy the best performing stores. There's a risk of the one offer clashing with the other and ultimately the stores not being purchased at all :/

[tailrustedtealeaf]

I...don't understand the crowdfunding. It feels unprofessional and amateurish. Average consumers cannot afford to give away such great sums of money.

[banditpony]

The whole TRU Canada thing makes sense. It makes sense because Canadian TRU seems to be doing ok and not in the same financial trouble as in the US. And if they can work a deal to include 200 US stores as well, brilliant.

The crowdfund thing...if I were staff at TRU I would be so uneasy about that, because it's so uncertain. The MGA guy has a vested interest in getting TRU back open but it doesn't seem concrete. It's an amount that may settle a debt but what happens then going forwards? What branches are at risk? What jobs will still go?

If I were TRU staff, I'd be hoping for the TRU Canada thing to save 200 stores and then for KB's resurrection to take care of the rest in terms of laid of staff.

The crowdfunding seems like an unnecessary complication which could potentially scupper the other deal if not careful. I mean, surely the crowdfunding money would also seek to buy the best performing stores. There's a risk of the one offer clashing with the other and ultimately the stores not being purchased at all :/

Well.
Larian is trying to buy the Canadian stores + head the crowdsourcing. If there was a risk of that clashing-- he wouldn't try for both.

I'm unsure how many "saved" jobs the KB stores would produce-- Pop up seasonal doesn't sound promising for long term jobs.

[Taffeta]

None of it sounds very certain to me, but I'm looking at it from the perspective of a country whose businesses etc have already given up on TRU and are shutting it down.

If he is in both then it is actually more concerning. Either he can't afford to buy out the whole thing or isn't willing to risk all that capital taking on the full burden...

Reminds me of what happens when someone wants to buy a football club here then isn't able to finance the ongoing costs beyond the initial purchase.

But you did say they were separate which was my impression too...

[FiddlePhan]

They're closing all their UK locations too. 
https://www.scotsman.com/business/toys-r-us-founder-dies-as-all-100-uk-stores-to-shut-1-4711161

[Kiwichi]

Saw a post today up to 70% off at TRU & liquidations have started already. Curious, has anyone else gone?  What kind of deals did you see?

I'm kinda feeling sad about TRU....   Almost made a stop at TRU last wknd just so I can say I went 1 more time before it's disappeared *poof*  But my daughter already had a little easter spending spree at Walmart & I couldn't afford her squeezing anymore monies at TRU... also was afraid of the crowds considering the liquidation itself happening (black Friday atmosphere?)

I remember going to TRU as a kid and it felt HUGE with a million toys to look at!!!  It was truly mesmerizing just like the commercials(!!!) and I was in complete awe...   What's your favorite memory of TRU?