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Toys R Us is planning to
liquidate its US operations

Associated Press, by Staff *

Original Article

Posted By:Ribicon, 3/14/2018 11:15:13 PM

New York — Toys R Us is headed toward shuttering its U.S. operations, jeopardizing the jobs of some 30,000 employees while spelling the end for a chain known to generations of children and parents for its sprawling stores and Geoffrey the giraffe mascot. The closing of the company´s 740 U.S. stores over the coming months will finalize the downfall of the chain that succumbed to heavy debt and relentless trends that undercut its business, from online shopping to mobile games. CEO David Brandon told employees Wednesday the company´s plan is to liquidate all of its U.S. stores, according to an audio recording

Comments:
* Joseph Pisani contributed to this report

Good old debt overload strikes again, with Bain Capital, KKR, and Vornado Realty Trust in 2005 taking the company private in a leveraged buyout.

      


Post Reply  

Reply 1 - Posted by: Muncsdad, 3/14/2018 11:43:21 PM     (No. 11572309)

Victim of both Vulture Capitalist and Amazon.

As I say to my friends, I HATE Amazon, and I buy something on the evil site pretty much every day...

I wish principles were easier to live up to.

Guilty.



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Reply 2 - Posted by: trashcann, 3/15/2018 12:02:51 AM     (No. 11572311)

I also hate Amazon and can always find what I am looking from a small vendor on Ebay. They have a good return policy and is usually cheaper than Bezos.com.

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.New_S.
  


 
Reply 3 - Posted by: Nevadadad46, 3/15/2018 12:06:20 AM     (No. 11572312)

C´mon, #1. Do not feel guilty. Amazon merchandising is no different than cell phones taking over and destroying phone booths and land lines. Nor is it different than railroads destroying inland canal boatmen´s business. Or steam ships replacing sailing ships. Its merely advancing technology.

Toys R Us had every opportunity to go the way of Amazon. Even Walmart has a giant web site where you can buy their merchandise. K-Marts are closing right and left and Sears is being crushed- why? Have you been in those stores lately- A mess! the people are rude, or indifferent, you have to wait in a line 6 deep and stand there wondering why they have 8 check-out stations and only one checker while other employees stand around discussing yesterdays BF/GF dramas. Or you drive all the way over there only to find out they are not even carrying your size underwear- "Oh, we be out- Yolanda musta fergots to order it."

Last time I was in a TRU store was several years ago and could not find a single store person to answer my questions about a very expensive game set I was trying to buy for my grand son. I had to leave MT handed. Never went back. Bought the game set on line at about a 30% savings!

I shop Amazon at least three times a week now. No regrets! As for TRU? Too bad, they should have kept up with the times and definitely delivered stellar service to their customers.

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Reply 4 - Posted by: dvc, 3/15/2018 12:13:15 AM     (No. 11572315)

It always seemed odd to have a store with nothing but toys. What´s wrong with getting toys from a dept store?

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Reply 5 - Posted by: Timber Queen, 3/15/2018 12:43:21 AM     (No. 11572329)

Toys R Us was my first part-time job the summer after high school and the first half of freshman year at CSUN. I was a stock clerk for the doll department and did my turns on the register.

Despite the posted closing hours, during the Christmas season the store stayed open as long as there were customers shopping, usually to midnight. After closing we finished restocking all the shelves to be ready for the morning. I didn’t get out of there until 2am. The guys who put the trikes together would have races down the wide aisle before they put the handlebars on. Just to make sure they were in working order, you understand. All stock shipments stopped after Thanksgiving. By the week before Christmas the huge storeroom was empty and then slowly the shelves. About three days before Christmas I had a frantic woman hunting for that year’s big Barbie make-up head. I told her the last one we had was gone two weeks ago. She insisted I look in the storeroom, even after I told her the cupboard was bare, so I took her through the swinging double doors. It was a rather sad moment as I saw her face register both amazement and loss of hope at the same time.

The registers were the old behemoths where you pushed a button for every digit in the price and hit the enter button with the side of your hand. My claim to once fame, and now infamy, is that OJ Simpson and his first wife, Althea, came through my line with two full baskets. That was before he went over to the dark side. After inventory was done in January all of us summer/Christmas part-timers were fired. I weep no tears for Geoffrey.

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Reply 6 - Posted by: Judy, 3/15/2018 1:13:29 AM     (No. 11572334)

Conservatives still buy Amazon Walmart is better.

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Reply 7 - Posted by: JediJerry, 3/15/2018 2:12:50 AM     (No. 11572346)

Having raised 3 kids I can call them Toys R Expensive. Amazon and Walmart probably took a big bite of market share and now it’s time to end it. TRU was no discount store and I couldn’t afford shopping there. Christmas cost in the thousands and I wasn’t rich by any mans but spent what cash I could then the rest on credit cards and then tried paying it off over the year.

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R-TA-Wide_2
  


 
Reply 8 - Posted by: hershey, 3/15/2018 5:16:08 AM     (No. 11572363)

Haven´t even gone into a Toys-R-Us since they went into a ´gun free´ zone...

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Reply 9 - Posted by: rolfnader, 3/15/2018 7:47:35 AM     (No. 11572442)

I won´t miss their bad grammar. I always reminded me of something one might see in Ebonia.

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Reply 10 - Posted by: rolfnader, 3/15/2018 7:49:52 AM     (No. 11572446)

Speaking of bad grammar- I forgot the ´t´ in ´It´.

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Reply 11 - Posted by: Jennie C., 3/15/2018 8:11:43 AM     (No. 11572462)

Yes, it should be Toys R We. Or, in the case of their sister store, I preferred Babies R Wee.

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Reply 12 - Posted by: 49 Ford, 3/15/2018 8:52:40 AM     (No. 11572502)

Whenever I´m in a retail store and confronted with the situation #3 describes I feel annoyed as anyone else would. But then I am heartened by the fact that the kid, whatever his or her educational deficiencies, is working to earn an honest dollar and ought to be encouraged. And I´ve found that many of these youngsters try to be helpful and conscientious even as they speak in ghetto patter.

But then maybe that just reflects my own dumbed-down expectations in an age of rampant social liberalism.


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.LockDme.


 
Reply 13 - Posted by: Seething Citizen, 3/15/2018 10:47:57 AM     (No. 11572624)

I had an extreme problem with a new treadmill I bought thru Amazon. Amazon did nothing wrong but the manufacturer is the worst organization I´ve ever dealt with in my life. Through communications with Amazon, they happily refunded the costs, the warranty price, and had a truck come from out of state, free, at my convenience, to remove the item. And amazingly, they paid me for my serviceman to disassemble and pack it up! How can you beat service like that!

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Reply 14 - Posted by: Smart11344, 3/15/2018 1:56:54 PM     (No. 11572842)

99.9% of my Amazon purchases are from vendors posting on the Amazon site. I do realize Amazon gets a cut of the sale, but probably not as much as buying directly from Amazon.

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Reply 15 - Posted by: SALady, 3/15/2018 7:16:14 PM     (No. 11573069)

I can´t stand Bezos, and it sickens me to know that every Amazon purchase I make makes him just a little richer.

But, like with many successful businessmen, I respect that he had the vision to create Amazon.com in the first place.

Like so many businesses, Toys-R-US didn´t have the vision to stay ahead of the wave of change, and it cost them. That is the free market in action.

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