Toys R us reportedly planning to close 200 more stores

Oh no...

Still glad I don't work at toys r us anymore. Sure I got discounts but this whole going out of business deal would've probably sent some panic to my managers, as well as leading up to having to find a new job.

I thought of working at TRU but my capacity for screaming children is 5 minutes or less so I know I am not a good fit.

If they do close more, I hope they get the list out quickly.
I'm guessing we wont be seeing to many TRU exclusive transformers at this point though.

Rodimus Knight wrote:If they do close more, I hope they get the list out quickly.
I'm guessing we wont be seeing to many TRU exclusive transformers at this point though.

Only 1 in 2018.

Right, time to recheck my local one... Last time they had a sign saying they'll continue to be open and be of service, apparently aware of the potential panic the overall news is bringing.

This is in part educated speculation, but the original 180 store list shows the TRU in Greenwood, IN as closing. I was just there two weeks ago and the TOYsRUS I does NOT have the Store Closing Signs up, but the BABIESrus next to them DOES. So with that in hand I firmly believe that at the very least the original list is populated with both TRU and BRU stores. And this one may be too.

"
Toys “R” Us Inc. is making preparations for a liquidation of its bankrupt U.S. operations after so far failing to find a buyer or reach a debt restructuring deal with lenders, according to people familiar with the matter."


The news sent shares of the biggest toymakers tumbling in late trading. Mattel Inc. fell as much as 6.1 percent, while Hasbro Inc. declined 3 percent.

https://www.bloomberg.com/news/articles ... operations

Will, is the article accurate that TRU Canada entered bankruptcy last September? I don't recall hearing that!

You read that right. This Monday, Toys R Us is expected to appear at a bankruptcy hearing and shutting down all its stores and liquidating its entire US operations is one of the options they are considering. There are other options, of course, but this is the option certain lenders are pushing for, after a weak holiday performance. They had already planned to close 20% of their US stores (184 to be precise).

This comes to us from the Wall Street Journal which refers to unspecified people in the know.

Just to be very clear, this does not mean that all stores are closing Monday, it just means that the decision to close all stores in the US could be made official Monday. Liquidation would happen soon after. Also, this is just for US operations.

Here are the key parts from the Wall Street Journal Article:

- Troubled toy chain Toys R Us Inc. is preparing to liquidate all of its U.S. stores and abandon efforts to restructure through the bankruptcy process, people familiar with the matter said, after a weak holiday season torpedoed plans to reorganize.

- An announcement could come as soon as Monday when the parties are expected to appear at a bankruptcy hearing in Richmond, VA., the people said. How much Toys R Us decides to liquidate will depend on the size of the liquidator bids it receives, the people said.

- The plan to shut down the stores and liquidate the U.S. operations is one of several scenarios in play, one of the people said, and while some lenders are pushing that route, others want to find other options for Toys R Us to continue operations.

shajaki wrote:Will, is the article accurate that TRU Canada entered bankruptcy last September? I don't recall hearing that!

Yes, it did. But it did so seperately. It was indeed protection from the US going bankrupt since TRU Canada has been lending its surplus money to the US branches.

The US was sinking Canada down with them (which they can, they own it) so when they declared bankruptcy, Canada had to decalre bankruptcy too.

However, I do not think that the US liquidating means canada will have to be liquidated as well. Regardless, TRU Canada is ridiculously profitable due to the meager competition so what i beleive is someone would simply buy the Canadian operations if things got really dire.

Holy S*** this is troubling as all hell. Granted the decision isn't final yet, but it's still really concerning for TRU. One concern of mine is that TRU might be the only option for TF collecting for certain people. I also can't help but wonder what's going to happen to certain exclusives i.e. Studio Series Thundercracker. Are we going to get an alternative outlet for purchasing it, or are we just not going to see it as a result of this?

BombshellDaBug wrote:Holy S*** this is troubling as all hell. Granted the decision isn't final yet, but it's still really concerning for TRU. One concern of mine is that TRU might be the only option for TF collecting for certain people. I also can't help but wonder what's going to happen to certain exclusives i.e. Studio Series Thundercracker. Are we going to get an alternative outlet for purchasing it, or are we just not going to see it as a result of this?

Thundercacker is already out at TRU, and was the last TRU exclusive.

how does liquidating stores and inventory help lenders? Aren't the locations leased? Are the stores locations owned? Selling real estate would bring in money. Thanks for any answers.

If anyone has any news or theories on what might happen to the Canadian stores please let me know, I really hope they don't close down because it's my main supplier for transformers

SHIT

TK415 wrote:how does liquidating stores and inventory help lenders?

IIRC its a way to sell off unused products to get 'liquid funds'. Think of stores like ROSS, TJMaxx and Nordstrom Rack that sell surplus goods. My theory is some of the overstock from TRU may wind up those places. I could be wrong.

Well that's just Prime

WreckerJack wrote:

TK415 wrote:how does liquidating stores and inventory help lenders?

IIRC its a way to sell off unused products to get 'liquid funds'. Think of stores like ROSS, TJMaxx and Nordstrom Rack that sell surplus goods. My theory is some of the overstock from TRU may wind up those places. I could be wrong.

Basically anyone who wants to buy those goods is fair game. A step in the bankruptcy trajectory is to asses value of possessions, with movable stock as a primary focus. Once that is sold off either via sales in store or overstock to other companies, the real estate is next, which may take a while longer. It all depends on who shows interest in picking up a particular lot, it's a case by case basis, like one company buys up the lots in a particular city, another buys all the lots on East coast, and so on. I'm seeing it happen a lot back home in the Netherlands, with department stores and supermarkets biting the dust left and right.

Thankfully, the move to close up shop was an anticipated possibility so there are no exclusives in the pipeline: the future Movie MP figures and other normally TRU exclusives have been relegated to other stores. Anybody remember KB Toys with their exclusives close to bankruptcy in 2005? Nightmarish.

Kind of stupid of Hasbro to give a store in financial trouble and now could be closing a lot of exclusives. Maybe this might be a lesson and finally stop store exclusives

Funny how an American company decides to say f**k America after they established their brand in foreign countries. As much as I will miss the exclusives, I say f**k em and their overpricing. Why dont they just dump babies-r-us instead? Good luck in Australia with your $250 Trypticons and $50 voyagers.

Logsters65 wrote:If anyone has any news or theories on what might happen to the Canadian stores please let me know, I really hope they don't close down because it's my main supplier for transformers

Its main supplier for any toy there selection is bigger than walmart they even sell some Japanese stuff dbz naruto and other anime stuff

The most frustrating and expensive place to buy toys is closing.

I don't have much in the way of childhood nostalgia going there and as an adult I've only known them as a huge headache so I really can't say I'm going to miss them. I'd go as far as to say I'm glad they're going away, now I don't have to drive 75 miles in hopes of finding an exclusive.

Emerje

If/when they go from the U.S. I won't miss the prices, but I will miss the experience. There is something so fun about walking into that place as a collector and seeing all that their can be to collect strewn about you. When you go in with your kids, there is a very Lion King type moment in my head when that door opens and my kids walk in with me (at least when my son was younger, now he's too cool for toys at 17, but at 9 my daughter still fits the bill) and you just want to say "All that the light hits could be yours".
It's so fun to see kids eyes afire with awe, want, desire of the toys as you walk around, even if all your doing is picking up someone else's birthday gift. I'm laughing to myself remembering my wife admonishing me as well as the kids "We are only here to get a birthday gift, don't go giving me puppy eyes and asking me for anything, that goes double for you Mr. Walsh" So yeah, if it goes, I'll miss it for a couple of reasons, but nothing that won't live in my memories, until senility sets in at least.

it wont be a surprise when it happens.

I'm more sad about the experience as well. The one in Clearwater and Citrus Park aren't very good at stocking up Transformers. What I will miss the most that is more recent; taking me three year old son to the section they started up during the holiday season where kids can play with various toys. His excitement about it and playing with him there outside of the house was fun. Guess it's more trips to Barnes and Noble (he LOVES the Thomas the Train set up)....unlike Toys R Us lately, they actually HAVE trains to play on the tracks. As for Transformers, I've been finding more at Think Geek and even Patrick AFB at the Exchange they have Trypticon for 112.00 bucks. Haven't really been collecting anyway ever since I sold my entire collection to Big Red Head Comics.

I have shopped at TRU for years, I remember the days when they had more chains like Lionel Playworld and children's Palace (non mall stores) and prices were a lot better. I do have fond memories of buying some TF's from TRU like the original Fort Max and Scorponok. Unfortunately recently If I have purchased more than 3 items from TRU a year unlike when I used to get at least 50 - 75% of my toys from them as they are too damn expensive now, and I can get the toys other places. If I visit the only local store once a month I am lucky as lately I have gone 2 - 3 months without stepping foot in one of their stores.

Judging by their previous decision making choices, poorly handled/run liquidation is probably what they'll go with. If only they could dump the upper/middle management dead-weight and only keep the people who are willing to do what's necessary to keep the company going.

I may have to shift to buying mostly online since I can count the number of different Transformers my local Wal-marts usually have in stock on one hand, and my local Targets are usually very slow to stock/restock, when the Transformers section isn't overtaken by 'IP of the month' toy overflows.

Just banked out my last two years' worth of Rewards R Us dollars. Not gonna chance it that they don't get honored during a liquidation.

I feel very conflicted over this because it's been such a staple of my existence for as long as I've been alive though I always felt they charged too much on the markup on the products they stocked. I am saddened by this though.

Ok. This is not good. What we need to happen is this...and hear me out here. Amazon buys Toys R Us. Amazon then closes some retail locations but gains leased warehouse space and stores. Amazon then able to offer Amazon pricing in store. This would be so awesome!!!

TK415 wrote:how does liquidating stores and inventory help lenders? Aren't the locations leased? Are the stores locations owned? Selling real estate would bring in money. Thanks for any answers.

its about cutting losses. Close the store and u
You lose payroll costs and and most of your ovwrhead until you can sell the buildings. Liquidate the product, and at the very least you can pay back to some of the creditors and not be hemmoraging on interest.

leokearon wrote:Kind of stupid of Hasbro to give a store in financial trouble and now could be closing a lot of exclusives. Maybe this might be a lesson and finally stop store exclusives

if by "stop" you mean "We won't get many of the cool figures that have come out over the years at all now", then yes. But not havong a Stpre for Exclusices doesnt mean they can magically stuff it into the main line.

It's a shame indeed. But on the bright side, there will be less "exclusive" figures to worry about.

leokearon wrote:Kind of stupid of Hasbro to give a store in financial trouble and now could be closing a lot of exclusives. Maybe this might be a lesson and finally stop store exclusives

if by "stop" you mean "We won't get many of the cool figures that have come out over the years at all now", then yes. But not havong a Stpre for Exclusices doesnt mean they can magically stuff it into the main line.[/quote]

Well it doesn't matter if they don't magically appear in the main line (which they should) since not everyone can get them in the first place.

What about the bigger figures like titan clas (Predaking)? The only place I have seen those class figures is TRU. I don't know the reason why, but my local Wal-Mart's or Targets stock those. I didn't think those guys were actually "exclusives"....

NTESHFT wrote:What about the bigger figures like titan clas (Predaking)? The only place I have seen those class figures is TRU. I don't know the reason why, but my local Wal-Mart's or Targets stock those. I didn't think those guys were actually "exclusives"....

They are not. You could order them from walmart.com or amazon.com with free shipping.

https://www.walmart.com/ip/Transformers ... n/55589165?wmlspartner=FYAGeMjDX6c&=&affs=p&wid=5b6b4213e4b0bcb699adeb9f&u1=&oid=223073.10006940&sourceid=37141976172661509211&affillinktype=3&veh=aff

They better not shut them all down, TRU is the only store that carries neca figures. They have a ton of awesome stuff out this year and if TRU goes under me and many others will be screwed. As usual a greedy corporation is looking for the easy way out and screwing over the customer instead of doing real work and fixing things.

first KBtoys now possibly toys r us it feels like they are taking away my childhood memories

Um...Chuck E. Cheese is dead?

william-james88 wrote:

BombshellDaBug wrote:Holy S*** this is troubling as all hell. Granted the decision isn't final yet, but it's still really concerning for TRU. One concern of mine is that TRU might be the only option for TF collecting for certain people. I also can't help but wonder what's going to happen to certain exclusives i.e. Studio Series Thundercracker. Are we going to get an alternative outlet for purchasing it, or are we just not going to see it as a result of this?

Thundercacker is already out at TRU, and was the last TRU exclusive.

Not quite available though. It being “out” and “available” are two different things. Especially if your store is really lazy about restocking. A lot of people may never see that thing.

lakebot wrote:

william-james88 wrote:

BombshellDaBug wrote:Holy S*** this is troubling as all hell. Granted the decision isn't final yet, but it's still really concerning for TRU. One concern of mine is that TRU might be the only option for TF collecting for certain people. I also can't help but wonder what's going to happen to certain exclusives i.e. Studio Series Thundercracker. Are we going to get an alternative outlet for purchasing it, or are we just not going to see it as a result of this?

Thundercacker is already out at TRU, and was the last TRU exclusive.

Not quite available though. It being “out” and “available” are two different things. Especially if your store is really lazy about restocking. A lot of people may never see that thing.

So what? Even in normal times, some people migjt not see toysrus exclusives at their specific toys are us.

The point is this exclusive has been shipped to the stores. There is no going back on it and you will not see it at another outlet aside from a discount outlet ifTRU dumps their stock.

Well, this is depressing. the 'local' TRU, about a half-hour away, wasn't too bad with Transformer or MLP toys. And as others have said, there's a lot of memories there.

I wonder if any other store will try to come and take TRU's spot as being a chain of toy stores. Target and Walmart are the only other places that sell toys. (Sometimes walgreens has stuff but not always, fred meyer stopped selling anything bigger than a titan master) I'll admit I get most my toys off amazon or ebay but I don't wanna be stuck with amazon's pricing system. Sometimes it's good, sometimes it's unfair and the worst is paying for shipping. (And screw amazon prime for "free shipping" I have done the math and for me it wouldn't save me anything.)

Cyber Bishop wrote:I have shopped at TRU for years, I remember the days when they had more chains like Lionel Playworld and children's Palace (non mall stores) and prices were a lot better. I do have fond memories of buying some TF's from TRU like the original Fort Max and Scorponok. Unfortunately recently If I have purchased more than 3 items from TRU a year unlike when I used to get at least 50 - 75% of my toys from them as they are too damn expensive now, and I can get the toys other places. If I visit the only local store once a month I am lucky as lately I have gone 2 - 3 months without stepping foot in one of their stores.

Hey buddy, I will never forget the first time I met you at the TRU on Vets. You had hid an Armada Tidalwave for me, and I went there to pick it up. I saw you there and recognized you from pics you had posted here in the Energon Pub. So glad to still call you a friend after all this time. It's hard to believe that was, what 15 or 16 years ago?

I have very fond and vivid memories of Children's Palace on Vets and Lionel Playworld on Airline. It's funny, I don't remember ever going to TRU until the later '80s after the NES came out and going there to look for TMNT with my brother. Do you know what year it opened here?

I know it looks bleak, but I do really hope something can be worked out. Fat chance, I realize, but I just don't want to see it go...

The Toys R Us of my childhood has been gone for a couple of decades now.

Over priced, and rarely in stock, the current version will not be missed.

Ironhidensh wrote:The Toys R Us of my childhood has been gone for a couple of decades now.

Over priced, and rarely in stock, the current version will not be missed.

I had started to kind of enjoy going there again when they began stocking fun Gundam stuff from Bluefin. Then they started marking those up to the point where different figures in the same series, that were the same size, but different assortments would vary in price. Happened with Converge, Universal Unit, and even the little two minute kits. Hell I can go to one up the road and spend anywhere from $6-$11 on one Converge figure. It's this huge red flag of a retailer being run by people that don't understand retailing.

In short, I agree

A lot is going on for Toysrus. Today was going to be quite critical with a decision in bankruptcy court that might involve closing their entire US operations. However, it turns out the hearing was adjourned with no decisions made and anything planned to be discussed today will be discussed Wednesday the 15th instead.

NOTICE OF ADJOURNMENT OF OMNIBUS HEARING SCHEDULED FOR MARCH 12, 2018 AT 2:00 P.M. PLEASE TAKE NOTICE THAT all matters scheduled to be heard at the omnibus hearing set for March 12, 2018 at 2:00 p.m. (prevailing Eastern Time) are being adjourned to March 15, 2018 at 2:00 p.m. (prevailing Eastern Time) and that all matters set for the omnibus hearing on March 12, 2018 have been removed from the Court’s docket.

Many Canadians are concerned since unlike the experiences reported in the US, Toysrus in Canada has been a true haven for collectors. They would pick up any exclusive from retailers that were US specific (BBTS, Target, ect) and thanks to their pricing policy and discounts, it is currently the best place to buy Transformers in the country. So of course, Canadians are very worried with what will happen if the US parent company folds. Well, we have word from the VP of marketing of the subsidiary, Clint Gaudry:

Clint Gaudry wrote:Our business in Canada is operating as usual. We remain committed to providing customers with great service and the best assortment of merchandise in the toy and baby categories. We continue to serve our customers and honour all our customer policies and programs like Baby Registry, Gift Cards and R Club loyalty.

So that's good news for Toysrus Canada but this article from the Financial Post, which looks into the future of Toysrus Canada, and it seems there will definitely be a change regardless. For instance, if Toysrus Canada survives and continues on its own, not being part of a bigger corporation means prices are bound to go up to offset costs of no longer buying as big an order from suppliers.

Any prospective buyer of Toys “R” Us Canada would have to work with skittish vendors and a higher cost base. “Things would change without the U.S. business to support the Canadian unit, anything from marketing costs to merchandising costs,” without the economies of scale of a large bulk-buying parent Minakakis said.

wait, isn't wednesday the 14th?

Ig89ninja wrote:wait, isn't wednesday the 14th?

its thursday, I fixed it

It's an extremely slow gradual decline that we've been watching since '88. Everything started going down the toilet around '88='92. All the toy lines died. The cartoons died. The stores started dying off. The economy went to hell. Music went to shit when rap came on the scene. And because of cell phones & other electronic gadgets humans don't even know how to socially interact with each other anymore. You can't stop progress! lol Let it burn! Good riddance to a rotten world.

My local Toys R Us never has anything. I leave empty handed 99% of the time. And their website is just as bad. And back in the 80's Toys R Us hardly ever had anything, Child World was my store. Child World was always better. I still miss Child World & Kay Bee but I won't miss Toys Aren't Us.