Poll of the Day > Toys R Us files for BANKRUPTCY as 64,000 EMPLOYEES are in JEOPARDY!!!

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Full Throttle
09/19/17 3:08:41 AM
#1:


Would you be sad if Toys R Us is gone?


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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magemaximus
09/19/17 3:52:21 AM
#2:


https://youtu.be/YMCERAXhiEk?t=13s
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Blaqthourne
09/19/17 3:59:10 AM
#3:


^ He forgot "From bikes to trains to video games, it's the biggest toy store there is."
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Zeus
09/19/17 4:00:53 AM
#4:


Full Throttle posted...
http://i.dailymail.co.uk/i/pix/2017/09/19/06/44777C7700000578-4897848-image-a-54_1505799258012.jpg


Image kinda makes me feel sad. I remember all of the magic about TRU.
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yutterh
09/19/17 4:02:15 AM
#5:


Zeus posted...
Full Throttle posted...
http://i.dailymail.co.uk/i/pix/2017/09/19/06/44777C7700000578-4897848-image-a-54_1505799258012.jpg


Image kinda makes me feel sad. I remember all of the magic about TRU.


That magic died for me when I worked there. Two different stores, one in Cali and one I. Texas.
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Blaqthourne
09/19/17 4:08:43 AM
#6:


yutterh posted...
That magic died for me when I worked there.

I actually liked working there. Granted, I was stockroom, so rarely dealt with customers. I actually still have the entire Mulan graphics from above the promo section. I wonder what happened to all the humongous Millennium Falcons from the 1997 re-release that hung from the ceiling that I think they gave to employees in a lottery (I remember hearing about someone trying to buy one from one of the stores for $10,000).
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Montreal Expos (1969-2004)
http://www.backloggery.com/Blaqthourne Now playing: Shin Megami Tensei: Nocturne (PS2) -- started 8/15/2017
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Zeus
09/19/17 4:15:44 AM
#7:


yutterh posted...
Zeus posted...
Full Throttle posted...
http://i.dailymail.co.uk/i/pix/2017/09/19/06/44777C7700000578-4897848-image-a-54_1505799258012.jpg


Image kinda makes me feel sad. I remember all of the magic about TRU.


That magic died for me when I worked there. Two different stores, one in Cali and one I. Texas.


Never shit where you eat, as the old expression goes. It's the same reason I never worked at a fast food joint I liked because I knew that I wouldn't like it after working there.
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TheCyborgNinja
09/19/17 7:08:19 AM
#8:


The problem all these places have stems from refusal to adopt a quality over quantity approach. They always close way too few stores at first and begin doing so only after it's too late to really help anyway.

Right now, for instance, GS should shut down 1/3 of their retail stores. The novelty items taking up half the store and the revelation that over 70% of game sales are digital now (statistic regarding the USA on PS4, iirc) shouldn't be dismissed. Look on their store locator map at how oversaturated the cities are. There's no direct competition of equal size or in terms of services, so people will drive an extra 10-15 minutes if need be.
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BlackScythe0
09/19/17 7:36:58 AM
#9:


I work for toys r us.

We still have bulk from last christmas in the store. We still have summer filling half our imaginarium overstocks because they thought it was a good idea to reorder summer stuff a week before back to school set.

They aren't having problems because of internet bull shit they have having problems because they won't stop ordering shit that won't sell.
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