Toys R Us announces closing of at least 25% of all UK Stores

Discussion in 'Transformers News and Rumors' started by MetalicGrunt, Dec 4, 2017.

  1. MetalicGrunt

    MetalicGrunt Rust Proof Commando

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    Toys R Us will close at least a quarter of its UK stores starting early next year, the struggling children’s retailer said. The British arm of the toy chain, which filed for bankruptcy protection in the US and Canada in September, said it planned to close at least 26 stores out of 105 and cut hundreds of jobs as a result of a proposed restructuring deal to be agreed with its creditors. Toys R Us UK said on Monday it had “submitted a comprehensive operational and financial restructuring plan” to its creditors for approval over the next 17 days under insolvency rules which aim to stop companies falling into administration. The turnround plan for the UK business would see the group shift from “warehouse style” stores opened in the 1980s and 1990s to “newer, smaller, more interactive stores”, Toys R Us said. By shuttering stores the plan would “substantially reduce the UK company’s rental obligations” but also made job losses from its total of 3,200 staff likely. Shops would remain open over the holiday trading period but would start to close from the spring, it said. Steve Knights, managing director of Toys R Us UK, said: Our newer, smaller, more interactive stores are in the right shopping locations and are trading well, while our new website has generated significant growth in online and click-and-collect sales. But the warehouse style stores we opened in the 1980’s and 1990’s, while successful in the early days, are too big and expensive to run in the current retail environment. The business has been lossmaking in recent years and so we need to take strong and decisive action to accelerate the transformation.

    Toys R Us UK to close 26 stores in restructuring
     
    Last edited: Dec 4, 2017
  2. payres

    payres Well-Known Member

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  3. Hanzkaz

    Hanzkaz Well-Known Member

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    End of an era. It was seeing all the Armada Unicrons on the shelves when I walked into the old Toys R Us store in Birmingham City Centre, one day, that really got me into collecting Transformers.
     
  4. OPTIMUS PRIME24

    OPTIMUS PRIME24 Well-Known Member

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    And it starts....
     
  5. Purple Heart

    Purple Heart Royal Red

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    I don’t want TRU to go out of bussiness, I want them to restructure away from the warehouse style store that they were, and I’m glad to see that it’s been reconized as the issue.
     
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  6. CoktimusPrime

    CoktimusPrime I see you ;)

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    That's a hell of a lot of stores to close. I feel for the staff who will lose their job as a result.

    In stark contrast, there are 4 new stores opening in Australia. We don't have nearly as many stores as in US or UK.
     
  7. RKillian

    RKillian http://www.rktoyandhobby.com

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    Warehouse TRU was the best. The current cross between Apple store and Ollies is a loser.
     
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  8. Tekkaman Blade

    Tekkaman Blade Professor of Animation

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    Toys R Us was amazing in the 80's an early 90's. But from the late 90's on it just seemed to fall apart. Back in the day they promoted the toys, and were usually the place to go if you couldn't find it anywhere else. They had more space for only toys and usually had a good selection, better than the regular stores. Their stores were clean and organized well. Then they just started to become a more expensive Target or Wallmart in how they ran the stores.

    but back in the day....

    [​IMG] [​IMG]
    [​IMG]
     
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  9. payres

    payres Well-Known Member

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    top pic is a Zodiac toys, not a TRU
     
  10. payres

    payres Well-Known Member

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    Closure list: Toys R Us details the 26 stores to close as of spring 2018
     
  11. scamper

    scamper Well-Known Member

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  12. Lothar Hex

    Lothar Hex Perverted Sociopath™

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    Teesside Park staying open for now at least.
     
  13. Powerglide1991

    Powerglide1991 Autobot

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    yeh i'm happy about that, not surprising though, going by the map they have in store, its one of the only ones in the region apart from the metro center.
     
  14. Lothar Hex

    Lothar Hex Perverted Sociopath™

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    I think there's one near Peterlee as well but thats still a sodding twenty-twenty five minute drive.
     
  15. dacamper

    dacamper lurking in the shadows

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    Curses Basingstoke was my go-to store, mainly cos the parking was free, but also there is a big B&M there too. The other close one in Southampton charge for parking. Here’s hoping for another toy store in its place.
     
  16. we_are_forest

    we_are_forest I blame Powerglide

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    Really surprised that Nottingham will still have 2 stores at the end of this.
     
  17. Powerglide1991

    Powerglide1991 Autobot

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    Just checked google maps, apart from york and the metro center (didn't see one at peterlee but could be wrong) Teesside TRU is the only one in the area

    Compared to the south of England there is fuck all up here xD
     
  18. Powerglide1991

    Powerglide1991 Autobot

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    How dare you blame me!

    But on a serious note, nottingham had 3 STORES?!

    This is reminding me of Game about 5 years ago, when they closed loads of stores where they had multiple of. It's crazy.
     
  19. Powerglide1991

    Powerglide1991 Autobot

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    I could see Smyths buying a few of the stores TRU closes.

    They seem to be one of the only toy stores actually doing well.
     
  20. Starscream G1

    Starscream G1 Ruthless, Ace of the air

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    I remember those glorious day's. Those day's were the golden age of toys and cartoons. I don't know what happened. It's pretty to me. Toys r us was toy heaven in those day's. Wish it would comeback.
     
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