Toys "R" Us may close all stores

11 March, 2018, 01:32 | Author: Roderick Gutierrez
  • BP_Toys 'R'

According to the Wall Street Journal, the store is preparing to abandon efforts at restructuring after filing for Chapter 11 bankruptcy in September and will liquidate all of its stores.

Lincoln's Toys "R" Us dodged the company's last round of store closings, but it may not be around much longer.

Bankrupt toy seller Toys "R" Us could liquidate all of its USA stores as early as next week, according to reports.

On Friday, an employee of the Winchester store who is not authorized to speak with the media said there had been no official word from the Toys R Us corporate office and no one at the store knew anything about the potential liquidation beyond what was being reported in the news.

According to Bloomberg, the massive toy store chain is preparing to liquidate its USA operations after reaching bankruptcy.

And that may be the biggest blow to the toy industry if the retailer moves ahead with a liquidation of its US operations, a prospect that became more likely this week.

In Jan. the company announced plans to close 180 stores, including a location in Kingston.

Now, sources say the company could go out of business because it is running out of cash and can't get anyone to help. The company fell on hard times past year, filing for chapter 11 protection.

Fifteen percent of US toy revenue.

"I could see a private equity firm going in for this", said George Minakakis, principal at Toronto-based consulting firm Inception Retail Group Inc. While Amazon is an easy scapegoat, it's not all about the rise of e-commerce.

"We come here when my kids specifically want a toy".

Toys R U.S. isn't alone.

We'll keep you updated on the situation as more news becomes available. "Things would change without the USA business to support the Canadian unit, anything from marketing costs to merchandising costs", without the economies of scale of a large bulk-buying parent Minakakis said. The brick and mortar retailer has been struggling to reorganize and balance massive debt. Around three dozen retailers sought bankruptcy protection past year due in large part to a radical shift in consumer behavior, both in where they shop, and what they buy.

Numbers are also declining for other American toy companies, with Hasbro (3 percent) and Mattel (5 percent) seeing stocks drop.

And ever since the bankruptcy filing, the retailer has been under enormous pressure to give major vendors such as Mattel and Hasbro clarity into its long-term viability. 2 per cent in a broadly positive market.

Word that Toys "R" Us could liquidate all its U.S. holdings sent toy manufacturer stocks tumbling on Thursday.

"Our business in Canada is operating as usual", Clint Gaudry, vice-president of marketing and store planning, said in an emailed statement. The first Babies R Us store opened in 1996.



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