Shoppers upset about Toys R Us closings

Toy store chain Toys R Us has announced plans to sell or close all 800 of its USA stores.

The debt-laden toy chain, with more than 700 stores across the USA, became one of the largest victims of the retail decline when it announced on Thursday, March 15, that it would go out of business after a failed rescue effort.

Toys R Us, as a well-known and long-lasting brand, may yet have a future – the company even quoted its classic jingle in its bankruptcy filings.

Toys “R” Us has been struggling to stay in business for more than a decade as it is hampered with $5 billion in debt and increased competition from big-box retailers and online sellers.

Almost 20 retail chains have filed for bankruptcy since 2014, amid a wave of store closures, as legacy retailers like Sears teeter.

-2007: Toys R Us buys well-known NY toy store FAO Schwarz.

As I’ve noted before, Babies “R” Us could have been a lifeline for the wider Toys “R” Us company.

Walmart is the largest toy retailer in the USA and the second-largest online after Amazon.

The company statement said that it is exploring strategies for keeping the brand alive, including the sale of 200 United States stores that could be packaged with its Canadian operations.

Toys R Us estimated that about $205.9 million in gift cards and merchandise credit was outstanding when it sought bankruptcy protection in September.

Without a dedicated toy store to showcase products, Hasbro and Mattel – two of the biggest toy makers in the world – could each lose 3 percent or more of their projected sales this year, according to The Wall Street Journal. That deal also could include as many as 400 USA stores. “When they went away Toys R Us filled their shoes”. J.C. Penney opened toy sections last fall in all 875 stores. The company said that gift cards will be honored for the next 30 days. Toys R Us was a launchpad for emerging trends and toys, such as ZhuZhu Pets, which were the must-have holiday toy in 2008.

The confirmation follows word Wednesday that all US stores will be liquidated.

But smaller toy companies will have a harder time.

However, one well-recognized toy store is closing its doors.

What did Toys “R” Us mean to you? He eventually added toys to encourage parents to keep coming back before opening his first toys-only shop – Toys R Us, with the backwards “R” logo to mimic a child’s writing.

In a Facebook post Thursday, Andrew Abrahams said, “The beginning of the retail store crash”.

“Where Toys “R” Us missed a trick was with these online games and services and things that are engaging kids every single day and throughout the year”, Black said.