Earlier this year, Toys ‘R’ Us announced that it would be closing most of its U.S. stores after filing for bankruptcy in 2017. And while this was certainly bad news for anyone who loved the store “where a kid can be a kid,” it was especially unpleasant for toy manufacturers like Hasbro and Mattel. These companies depended on large holiday orders from Toys ‘R’ Us to fund operations throughout the entire year. Without a big retailer to sell to, though, Continue reading
Last year, we looked at how Toys ‘R’ Us filed for bankruptcy after struggling for more than a decade with increasing competition and crushing debt. And while its future didn’t seem particularly bright at the time, the retailer at least had a plan in place to stay afloat in the short term. Along with taking out a massive loan to buy stock for the Christmas season, the company also claimed it had no plans to close any stores.
This relatively Continue reading
The decline of brick and mortar retail has been one of the biggest business stories of the year, with formerly successful chains like HH Gregg, Payless and others filing for bankruptcy. And this week Toys ‘R’ Us became the latest company to join this unfortunate group. Like so many other traditional retailers, Toys ‘R’ Us couldn’t keep up with the growing dominance of Amazon. The company’s CEO said it would need to slash prices in order to stay afloat, Continue reading