Not all of them are going. Ours is staying put fortunately.
Not all of them are going. Ours is staying put fortunately.
... they haven't found a buyer and they are having no luck restructuring their debt ... this could turn into a complete and utter meltdown ... the closing of only 180 stores was a made grab at straws to try and make them more appealing to buyers ... read the article, it's not a good time for TRU ...
i'm surprised it took this long ... crazy prices, horrible treatment of staff, horrible treatment of customers, etc etc
The downfall of Toys “R” Us can be traced back to a $7.5 billion leveraged buyout in 2005, when Bain Capital, KKR & Co. and Vornado Realty Trust loaded the company with debt. For years, the retailer was able to refinance its debt and delay a reckoning. But the emergence of online competitors, like Amazon.com Inc., weighed on results. The company’s massive interest payments also sucked up resources that could have gone toward technology and improving operations.All of my business classes hail Amazon as some sort of monopolistic beast. I think it's ironic that a lot of the pony toys that I want end up being more expensive on Amazon than straight from Hasbro or even TRU, lol.
All of my business classes hail Amazon as some sort of monopolistic beast. I think it's ironic that a lot of the pony toys that I want end up being more expensive on Amazon than straight from Hasbro or even TRU, lol.
Ours was always busy though. I expected it to survive longer. Going on Monday was a big shock.
Went to my store. It was busy but more like Friday night busy not going out of business busy. I went ahead and picked up some stuff for presents. Thought about buying a couple ponies for myself but the things I was looking at weren't exclusive to that store so I decided to wait and see. Anyone know much about the light up Tempest? She isn't marked as Toys rUs exclusive but that's the only place I've seen her thus far. May go back for her later.
Also, my store is all sold out of the big $60 set. I'm surprised by that since usually those big sets hung around for at least a year. Did they order fewer of them, I wonder?
"Game over for Toys R Us" is headling on my facebook feed. looks like they're closing down ALL stores no matter what country they're in....
Should Australians be worried about Toys R Us here with Amazon planning to move into our market in the new few years?
Should Australians be worried about Toys R Us here with Amazon planning to move into our market in the new few years?
I don't think Amazon is the main thing hurting TRU. They were still pretty busy. The problem is they took on a lot of debt in the early 2000s that they still haven't paid off. All the money they made was only able to cover the interest.
"Game over for Toys R Us" is headling on my facebook feed. looks like they're closing down ALL stores no matter what country they're in....
Here in the Nordic countries the trademark Toys "R" Us is owned by a Danish company TOP-TOY, so not every TRU in the world is under threat. Even if the trademark for some bizarre reason would no longer be available for use in the future, I doubt the stores themselves would go away as they have other names they can use.
In my opinion tho there is not very much in common with the TRU's here and on the other side of the pond other than the branding...
How about other countries, who are the owners of the trademark around the world?
Yes, we have heard here that all US stores will be closing down as TRU are going in to liquidation. Apparently the stores here are not in danger so they say. But then that is what they would say, isn't it?
I've read several articles that mentions a buyer for the Canadian branch and that this potential buyer may buy up to 200 ( one article said 400) U.S. stores. I guess that's the best we can hope for.MGA Entertainment is someone interested in buying some stores:
It is a HUGE blow to the toy and collectible industry. I just hope it can adapt and recover. If not, imagine our selection being even more limited, or worse, costs increasing.
It is a HUGE blow to the toy and collectible industry. I just hope it can adapt and recover. If not, imagine our selection being even more limited, or worse, costs increasing.
I'm also worried about this.
The toy companies will end up taking a hit... Reading a report now that Toys R Us is 14% of Hasbro's sales. :/ That's a huge chunk...
It is a HUGE blow to the toy and collectible industry. I just hope it can adapt and recover. If not, imagine our selection being even more limited, or worse, costs increasing.
I'm also worried about this.
The toy companies will end up taking a hit... Reading a report now that Toys R Us is 14% of Hasbro's sales. :/ That's a huge chunk...
Well Hasbro will probably be fine- their products are sold via many different big box stores- so chances are, people will continue to buy the same things elsewhere.
But smaller toy companies, who distribute only through TRU or through a couple of distributes, are probably very worried (if not in full out panic)
Going-out-of-business sales begin 3/22 at most locations!
https://io9.gizmodo.com/the-massive-toys-r-us-going-out-of-business-sales-begin-1823953347/amp?utm_medium=sharefromsite&utm_source=io9_twitter&__twitter_impression=true
I know where I'm going on Saturday! I hope some of the stuff we were eyeing is included in the sale, since I'm not sure how they're gonna handle the American Girl stuff.
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.
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.
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 :/
Right now it seems to be 5% off some, 10% most things and 20% off others.
On the way back from the Martinsville, Virginia race I stopped at the Toys R Us in Danville, which I have to say is one of the cleanest, well organized TRU I've ever been in. The variety of selection is way better than Colonial Heights TRU.
In my experience these kind of store closings always starts off at like 10% and 20%.
I've seen some complaining and wailing on other sites like facebook. Apparently these people have never seen store closings before so have no experience with how it works.
Gradually as the end date for closing draws nearer they bump up the percent to 25% and then usually 50% and then 75% is usually around when a lot of stuff is gone.
People got to realize IF they put everything 50% off all at once or heaven forbid 75% off, can you imagine how overwhelmed they would be? There would be a mad rush and I can even see people fighting over stuff.
So most of the time store closings involve stages of reduction. A lot of people will buy at say 25% off because they might not be able to make it to TRU later. Like in my case I have to drive 45 minutes to an hour to get to a TRU. So I'll probably will not be able to hop on over to get the best deals, etc.
Anyway, just some perspective.
the TRU by me has not gotten any sales at all , I don't think they will close that one, unless they are closing all of them now instead of some , TRU never has good prices here, it has always been more to get ponies there, and you always had to wait for a bogo sale or a nice black firday sale to get them at good prices , I was there 2 weeks ago, there was nothing I would want from the store ,not even at 50 or 70 % :biggrin:
Has anybody bought from the TRU website recently? I placed an order last Sat (the 24th) and it hasn't shipped yet. When I checked my account on Wed it said it should come between March 29 and April 2nd. When I checked again this morning I got a message that the website has been shut down and is no longer taking orders. I was able to log in and look at my account. My order is still there and still says it's pending. I'm beginning to wonder if I'll even get my order at all....The FAQ does say you should expect your order and that they are experiencing delivery issues. Hopefully they do get it out to you.
Also, they used a wordpress site for their liquidation site (http://toysrusclosingsale.com/). Just a little amusing, not used to seeing such big brands use website builders!
Interesting read. We'll see what happens. I toy company owning so much of the toy store seems to put a bias to those toys.
FYI: If it hasn't been mentioned. Toys R Us is getting new shipments from the warehouses daily. My local store had a lot of pony toys from 2015 stocked on the shelves. Might be good to take another look.
https://www.bloomberg.com/news/articles/2018-04-17/toys-r-us-is-said-to-reject-rescue-offer-from-mga-s-larian
:/
I haven't seen any information why the bid was rejected, aside from the fact that it doesn't meet the criteria necessary for a successful bid, what ever that means.
I haven't seen any information why the bid was rejected, aside from the fact that it doesn't meet the criteria necessary for a successful bid, what ever that means.
It probably means that he wasn't offering enough money. Now he could offer more money or bid on less stores and see if that gets approved. I don't think a "monopoly" is an issue since even if he was only going to stock MGA products it's not like specialty stores tied into a single brand don't exist. If anything making MGA-centric stores Could spur Mattel and Hasbro to have their own experiental store presence similar to the Lego Stores.
I haven't seen any information why the bid was rejected, aside from the fact that it doesn't meet the criteria necessary for a successful bid, what ever that means.
It probably means that he wasn't offering enough money. Now he could offer more money or bid on less stores and see if that gets approved. I don't think a "monopoly" is an issue since even if he was only going to stock MGA products it's not like specialty stores tied into a single brand don't exist. If anything making MGA-centric stores Could spur Mattel and Hasbro to have their own experiental store presence similar to the Lego Stores.
I tend to agree with this.
Larian's bid apparently did not match the liquidated value of the assets he was attempting to buy, insiders said.
Toys R Us, under bankruptcy law, has a responsibility to its creditors to maximize the value of its assets in order to pay off its debts.
"It's all about the dollars," said veteran toy journalist Jim Silver, editor of toy review website TTPM. "The court has no emotional ties to the decision. It's about the liquidated value."
Mine still had a lot of things at only 10%, but I'm glad I went back because they had several of the Friendship Festival pack! The quality SUCKS on them, so it took me looking at all of them to find the best one XD
I had to go because it was my birthday and I remember going a few times as a kid on my birthday to get stuff from there when I got money in my birthday cards. T.T
Is it legal for a company to deny gift cards? In California, if you put money into a coupon/etc., then the amount you paid can't legally expire and have to be honored.
Is it legal for a company to deny gift cards? In California, if you put money into a coupon/etc., then the amount you paid can't legally expire and have to be honored.
California is one of a few lucky states that has this law. Not all states forbid expiring GC...
I wonder if bankruptcy cancels out that law?
The Stores by me ,claimed to be 20 % off on things ,but their prices were jacked up and then "discounted"
this is nothing new with TRU , I'm glad they are going away , deceptive "sales" were one of their many toxic practices
:pout:
bye Felicia ! :biggrin: :biggrin: :biggrin:
The Stores by me ,claimed to be 20 % off on things ,but their prices were jacked up and then "discounted"
this is nothing new with TRU , I'm glad they are going away , deceptive "sales" were one of their many toxic practices
:pout:
bye Felicia ! :biggrin: :biggrin: :biggrin:
I'll be glad to see small stores get more business. Used to only get Calico Critters at specialty stores. Most of mine are from pre-TRU. I know of 3 small toy stores within half an hour of me and with any luck they'll flourish, assuming they're all still open. One is in my county but the vintage toy store said they're the only dedicated toy store in the county besides TRU.