Toys R Us closing multiple US stores! 3-15-2018 - all stores expected to close

Discussion in 'Transformers News and Rumors' started by Prime135, Jan 23, 2018.

  1. Neko-bot77

    Neko-bot77 Cybertronian Kitty

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    Y'know what? When there's actual news on this, can someone put it on the front page, or make a new thread title? I'm outta this thread.
     
  2. Dragonclaw

    Dragonclaw Comic Ink - Dublin, CA

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    Toys R Us prepares plan to liquidate its business
    Lauren Hirsch
    Published 1 Hour Ago Updated 3 Mins AgoCNBC.com
    • Toys R Us is in the process of drafting the court motion for its liquidation plan, a source familiar with the situation told CNBC.
    • Toys R Us missed a payment to some of its vendors this week, these sources said.
    [​IMG]
    Daniel Leal-Olivas | AFP | Getty Images
    A customer walks past a Toys 'R' Us store with 'closing down sale' signs.
    Toys R Us, the iconic U.S. retailer, is in the process of drafting the court motion for its liquidation plan, a source familiar with the situation told CNBC on Tuesday.

    The retailer could file as soon as the end of Wednesday, making the motion official. It will then begin to wind down the storied toy retailer, after more than half a century in business.

    A liquidation will most likely result in the closing of all Toys R Us' 800 stores in the U.S.


    It will be a blow to the toy industry, which has relied on it for supplying row after row of toys and premium pricing. Toys R Us accounted for 15 to 20 percent of U.S. toy sales last year, according to Jefferies analyst Stephanie Wissink.

    Without Toys R Us to sell its products, toymakers need to rely on Amazon and compete for the limited shelf space in big box stores. As such, Jefferies' Wissink estimates as much as 15 percent of all toy sales could be lost for good.

    Shares of toymaker Mattel have dropped 8 percent since CNBC reported the retailer was weighing a bankruptcy filing in September, while rival Hasbro's stock shed about 4.6 percent.

    Toys R Us entered bankruptcy in September with $4.9 billion in debt, a vestige from its $6.6 billion acquisition by Kohlberg Kravis Roberts, Bain Capital Partners and real estate investment trust Vornado Realty Trust in 2005.

    Toys R Us had sold to those financial buyers amid pressure as Walmart, Target and others undercut its prices. The debt from that buyout, though, only added to its challenges. Retail soon dramatically changed, led by the rapid rise of Amazon, and Toys R Us found itself hamstrung by payments, unable to make the investments it needed to in order to keep up.

    It had hoped under bankruptcy protection to finally make the changes it needed to compete — like a stronger internet business and more experiential stores — but, ultimately, it was too late. The crucial holiday season was dismalfor the retailer, and it missed on all its financial estimates.

    In the weeks that followed the holidays, pressure continued to mount. Its low cash balance left it at risk of breaching the terms of its bankruptcy loan, sources previously told CNBC. Another subset of of its lenders, meantime, have been pushing hard for liquidation, sources told CNBC.

    Last week, it became increasingly clear that liquidation would be the most likely route. Still, as recently as last week, it was shipping products to its vendors and telling employees it was business as usual, sources said.

    This week, though, Toy R Us missed a payment to some of its vendors, and was not responsive to calls, sources told CNBC. Bloomberg first reported the missed payment.

    The people requested anonymity because the information is confidential. Toys R Us declined to comment
     
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  3. teemu8

    teemu8 Well-Known Member

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    Nope,this doesn't cut it... The writing has been on the wall,but some people here just can't grasp what is happening and going to happen. No Matter what info anyone presents here, they still will be in denial of it.
     
  4. D3VC0N

    D3VC0N Decepticon

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    Just went to a local Toysrus here in San Antonio to ask about the Thundercracker, and the manager there just noted that in a backdoor meeting, they were told they will be shutting down Friday. Not sure if the other stores have gotten similar news, or just a badly timed coincidence.
     
  5. Macross7

    Macross7 Well-Known Member

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    Used my TRU bucks today as well as my $10 off $50 coupon so at least I won't loose those no matter what happens.
     
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  6. Jersey_Steel

    Jersey_Steel Well-Known Member

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    Same, I went to my local tru to look for the deadpool wave of legends since they get deliveries today. I ended up buying the storm collectibles M.Bison exclusive and used my coupon in preparation for their closing.
     
  7. Sinestro00

    Sinestro00 Black Smoke Rising

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    This sucks on so many levels. Not just in the short term for current employees, but also for the toy business in general. A pretty big domino falling here, I think.
     
  8. Mark

    Mark Just here for the toys

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    It’s disastrous for the toy business. That’s the only way to put it. The “good riddance” crowd can go to hell.
     
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  9. tonysandlin

    tonysandlin Well-Known Member

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    Good riddance
     
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  10. Purple Heart

    Purple Heart Lost in transition.

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    Hopefully my stays open till Friday, so I can make one last run.
     
  11. Macross7

    Macross7 Well-Known Member

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    I was listening to a video how TRU going under is a disaster for smaller toy companies. TRU was willing to give these companies a foot in the door to try out their various lines. They had room to display them and TRU could be used to build brands that could eventually get enough momentum to get to Walmart/Target. Target and Walmart don't have room for these. They want known brands or at least brands from the big companies. Very slim chance for small guys.

    While they could try listing their stuff on Amazon, MUCH less chance people will find it since people do targeted searches. In Toys R Us, people could be walking to the brand they know and see this new brand on the shelf. I know I've seen many toys in TRU that I would never knew existed just because I'm looking at the shelf and there it is.
     
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  12. teemu8

    teemu8 Well-Known Member

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    No,the doors shut by 9pm tonight...too late!
     
  13. Ajcrn1025

    Ajcrn1025 Well-Known Member

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    Whether you are right or wrong, you’re just so obnoxious about it. There’s no need to make a comment like that.
     
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  14. Purple Heart

    Purple Heart Lost in transition.

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    By spreading misinformation your only going to make this thread worse, and like the user above stated, your posts are obnoxious.
     
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  15. GoldDeadEnd

    GoldDeadEnd Well-Known Member

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    So surreal how the holidays were "dismal" for TRU. I worked the floor the 2008, 2012, 2014, and 2015 seasons, and my body always felt wrecked from darting around. I would love to know how many miles I walked a day. To say nothing of how my brain was buzzing after interacting with that many people.
     
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  16. Hoffman

    Hoffman Well-Known Member

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    The report is that this last holiday was dismal for them, not the holidays in general. It's not surprising, the bankruptcy news hitting before Christmas was always going to have a subconscious effect on peoples' shopping decisions.
     
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  17. GoldDeadEnd

    GoldDeadEnd Well-Known Member

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    Yeah, I knew they meant this last season (not that I conveyed it well), but the downturn just blew me away. And hell, I've spent hundreds there in the past year.
     
  18. stad

    stad Well-Known Member

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    I "get" that, you'd want all the poseability. But frankly, I don't understand why a robot would need to sit down....
    I thought it was pretty obviously a joking comeback to the guy he was responding to.
     
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  19. Hoffman

    Hoffman Well-Known Member

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    Ah, gotcha. I misunderstood your post.
     
  20. GoldDeadEnd

    GoldDeadEnd Well-Known Member

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    Through no fault of your own.
     
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