Current Events > Toys R Us files for BANKRUPTCY as 64,000 EMPLOYEES are in JEOPARDY!!

(+) Yeah! (+)

Toys R Us, the largest US Toy Store Chain has filed for bankruptcy protection as this is the latest sign of turmoil in the retail industry caught in the grip of online shopping and discount chains.

It said it received a commitment for over 3 billion in debtor in possession financing from lenders including JPMorgan bank syndicate.

The new financing is expected to immediately improve the company's financial health and support it's ongoing operations during court supervised process

The Canadian Unit also intends to seek protection in parallel proceedings under the Companies Creditors Arrangement Act in Ontario Superior Court of Justice.

The retailer's operations, including 255 licensed stores and joint venture in Asia which are sepeerate entities are not part of the Chapter 11 filing.

This filing is the largest eever by a specialty retailer and casts doubt over the future of the 1600 stores and nearly 64,000 employees worldwide

It comes just as Toys R Us is gearing up for the holiday shopping season that accounts for the bulk of its sales.

The company has not shown a net quarterly since 2013

The first Toys R Us opened in 1957 and its inaugural CEO, Charles Lazurus presided over the company until 1994.

It was brought out in 2005 but saddled with major debts that was never paid off.

It had some success under CEO David Brandon who since 2015 tried to make its destination for children but it proved futile in the face of online retail.

It has more than 800 locations in the US

Would you be sad if Toys R Us closes down near you?

Toys R Us -

http://i.dailymail.co.uk/i/pix/2017/09/19/06/44777C6B00000578-4897848-image-a-52_1505799202460.jpg

http://i.dailymail.co.uk/i/pix/2017/09/19/06/44777C8200000578-4897848-image-a-53_1505799208545.jpg

http://i.dailymail.co.uk/i/pix/2017/09/19/06/44777C7700000578-4897848-image-a-54_1505799258012.jpg
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Blame Nintendo.
Disney, Activision, and Lego, too.

I doubt any of them are capable of answering one correct answer on Jeopardy so yeah they're screwed.
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I haven't been to my local toys r us since like 2010
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They should hop on that import market and sell to weaboos and neets
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CM_Ponch posted...

They should hop on that import market and sell to weaboos and neets

Gamestop hasn't been able to do it for about a decade. TRU will just die faster if it tries.

I'd also like to point out that Amazon is looking for a 2nd headquarters. Sure it will be on only one city, but they are going to hire 50,000 people. Mostly skilled workers. So most of Toys R Us employees are screwed. However, unemployment won't take much of a hit, and neither will taxes since Amazon is going to end up paying more money.
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i havent been to toys r us in years but i use to love the place as a kid. definitely sad.
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Retail apocalypse is fun!
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I remember that when I got a job there I didn't even go to my first day since I already had a job and I just apply for shit and giggles.
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I know I'm sad, albeit mostly because it's one less possible employer in an already limited job market.
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I'll be a little sad due to nostalgia, but I wasn't really a customer.

I think I only bought a grand total of 1 toy from TRU and that was almost 20 years ago.

It was a TMNT Leonardo action figure which can transform into a fire engine.
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St0rmFury posted...

It was a TMNT Leonardo action figure which can transform into a fire engine.

cool

It was a TMNT Leonardo action figure which can transform into a fire engine

what
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Strange to think, but it seems like toys are actually on the way out now in favor of digital entertainment.
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Kelystic posted...

St0rmFury posted...

It was a TMNT Leonardo action figure which can transform into a fire engine.

cool

It was a TMNT Leonardo action figure which can transform into a fire engine

what

This one: http://tmnttoys.com/93figures/roadready/5371.htm
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I remember getting a gameboy color from toys r us

but i remember that place being was over priced
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I remember buying a ton of video games from that place in the early 2000s up until 2006.

I think the last thing I bought from there was close to five years ago.
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butthole666 posted...

Retail apocalypse is fun!

I apied online to so many retail stores and not one even gave a real reply, after hundreds of applications i still got zero interviews

They deserve everything they get now
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First thing to go during a bankruptcy should be seven figure executive salaries instead of the jobs belonging to the small fry employees.
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