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Author Topic: Toys R Us - Bankruptcy, Store Closures & Liquidation  (Read 867 times)

Nicklab

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Re: Toys R Us - Bankruptcy, Store Closures & Liquidation
« Reply #21 on: July 15, 2018, 10:20:20 AM »

Check out this news:

Toys R Us brand property going up for sale

Dive Brief:
Toys R Us is putting its intellectual property for sale as the retailer winds down its U.S. business. The company has requested in bankruptcy court a June 18 auction date for its IP sale, according to court documents.

The sale would include the company's trademarks, service marks, domain names, trade names (Toys R Us, Babies R Us and Kids R Us), the Geoffrey giraffe mascot, customer databases, private labels and more.

The company has already "received numerous inquiries" from interested buyers. Specifically, attorneys with Toys R Us said that 60 potential buyers have emerged, among them "major retailers, infant and juvenile consumer products businesses, brand buying and e-commerce organizations, and short-term strategic partners," attorneys for the company said in court papers.

Dive Insight:

Even as Toys R Us goes through the process of shuttering entirely its domestic business, there are still ways the retailer might maintain a presence in the country where it grew up.

For one, there are a couple parties reportedly interested in buying a chunk of the toy retailer's U.S. stores to operate them, namely the buyer of Toys R Us' Canadian unit and a billionaire toy mogul.

The company could also find a post-bankruptcy life in its brand, as many liquidated retailers have before it. Among them are Toys R Us' former toy-selling peers, FAO Schwarz and KB Toys. The Limited, Sharper Image, American Apparel and a host of others have also seen their brands survive bankruptcy, with varying degrees of success.
 
A retailer's brand and IP are so valuable that J. Crew's move to spirit away its IP to a Caymans subsidiary, as part of a debt exchange deal with lenders, quickly prompted a lawsuit from some unhappy creditors. According to Reuters, Toys R Us "could be one of the most valuable brands ever sold by a company going out of business."

And who, exactly, buys it matters. It could make the difference in whether Toys R Us survives as a website, a product label, an actual operating retailer with brick-and-mortar stores — or perhaps all of the above.

The Toys R Us auction is also an interesting case study in the breadth and depth of a retailer's intellectual property. An appendix in Toys R Us' motion for the auction includes the company's memorable logos and mascot, its famous jingle ("I don't want to grow up, I'm a Toys R Us kid…") and a huge list of domain names. Many of those names were not nearly as savory as the company's own. Toys R Us, presumably, bought domain names like "adulttoysrus.com" "ihatetoysrus," "sextoysrus.com" — along with all the ones you might expect — to protect that very savoriness of its brand.

Whoever wins the IP auction, will have some interesting decisions to make as they go through the full portfolio of Toys R Us' properties.

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videoviper

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Re: Toys R Us - Bankruptcy, Store Closures & Liquidation
« Reply #20 on: June 29, 2018, 11:36:57 AM »

Just stopping by during my lunch break, they aren't even letting people in unless you are buying fixtures. End of an era.

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Nicklab

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Re: Toys R Us - Bankruptcy, Store Closures & Liquidation
« Reply #19 on: June 28, 2018, 02:24:22 PM »

Former TRU CEO Jerry Storch, who ran the company up until around 2013, is leading an effort to relaunch the company.  See this Bloomberg article for more:

Former Toys ‘R’ Us CEO Is Working on the Retailer's Reboot
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Nicklab

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Re: Toys R Us - Bankruptcy, Store Closures & Liquidation
« Reply #18 on: June 25, 2018, 11:47:23 AM »

Per a report on CNBC this morning, expect the remaining Toys R Us stores in the U.S. to close the doors for good within the week.  Additionally, there are signs by TRU's corporate headquarters indicating that they're selling off the office equipment at significant discounts.
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Nicklab

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Re: Toys R Us - Bankruptcy, Store Closures & Liquidation
« Reply #17 on: May 02, 2018, 10:12:04 AM »

MGA CEO Isaac Larian is still working towards making a successful bid to buy Toys R Us and keep the chain alive.  Initial offers have been turned down.  But Larian hopes to be able to keep the Wayne, NJ headquarters open along with over 270 U.S. based stores.  In efforts to make his offer more attractive, he has dropped a bid to buy the Canadian Toys R Us operation.
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Nicklab

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Re: Toys R Us - Bankruptcy, Store Closures & Liquidation
« Reply #16 on: April 03, 2018, 02:56:48 PM »

As the Toys R Us chain comes closer to shutting down, TRU corporate is set to auction off the leases to their retail locations to other retailers.  Read this USA Today article for more.

Toys R Us leases to be bid on this week by companies like Target, Big Lots, Aldi and others.

Articles like this, as well as ones like this indicate that any hopes that Toys R Us corporate might be able to keep some smaller percentage of the chain open and operating seem to be wishful thinking.  There are even articles about what may happen with the TRU headquarters campus and what will happen with all of that vacant office space.
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Nicklab

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Re: Toys R Us - Bankruptcy, Store Closures & Liquidation
« Reply #15 on: March 21, 2018, 06:03:23 AM »

More on TRU's woes.  Specifically, their debt to toy manufacturers who let Toys R Us have product on credit.  Toys R Us owes Hasbro alone in excess of $50 million.

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Nicklab

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Re: Toys R Us - Bankruptcy, Store Closures & Liquidation
« Reply #14 on: March 19, 2018, 02:34:13 PM »

An anecdotal report from my TRU store visit today...

-LIQUIDATION SALES BEGIN THURSDAY, MARCH 22nd

-LIQUIDATION SALES WILL CONTINUE UNTIL STOCK IS SOLD OUT, OR MAY 15th  (WHICHEVER COMES FIRST)
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Nicklab

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Re: Toys R Us - Bankruptcy, Store Closures & Liquidation
« Reply #13 on: March 18, 2018, 06:22:05 PM »

Moving this to LATEST NEWS.  This is an incredibly pertinent topic, as Toys R Us chain sales represent 20% of toy sales in the United States
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Nicklab

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Re: Toys R Us - Bankruptcy and Store Closures
« Reply #12 on: March 15, 2018, 07:10:16 AM »

More information:

-Gift Cards will be honored for the next 30 days
-Reports indicate that you will be able to make returns through tomorrow, March 16.  But once the chain goes into liquidation there will be no returns allowed.
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Nicklab

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Re: Toys R Us - Bankruptcy and Store Closures
« Reply #11 on: March 15, 2018, 05:30:56 AM »

There may be a new hope...

CNBC:  Toys R Us is exploring a plan that could keep 200 stores open even after liquidation
-Toys R Us is working on one proposal that could keep roughly 200 U.S. stores open after it liquidates the company, sources familiar with the situation told CNBC on Wednesday.
-The plan would look to combine those stores with stronger Canadian operations.
-The retailer expects to make its liquidation official as soon as end of the day Wednesday.



Toys R Us has some 800+ stores in the United States.  Reducing the number of stores in the chain to 200 would be a massive cut in their operations.  Will the Toys R Us brand survive?  I think a lot of people are watching this intently.
« Last Edit: March 15, 2018, 05:32:44 AM by Nicklab »
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Matthew

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Re: Toys R Us - Bankruptcy and Store Closures
« Reply #10 on: March 15, 2018, 03:50:11 AM »


Maybe Kiddie City will come back.
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Nicklab

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Re: Toys R Us - Bankruptcy and Store Closures
« Reply #9 on: March 14, 2018, 06:21:28 PM »

The end of Toys R Us is very near:  CNN MONEY:  Toys 'R' Us will close or sell all US stores.
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Nicklab

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Re: Toys R Us - Bankruptcy and Store Closures
« Reply #8 on: March 13, 2018, 07:24:21 PM »

The news for Toys R Us is not getting better. 

CNBC:  Toys R Us prepares plan to liquidate its business
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Nicklab

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Re: Toys R Us - Bankruptcy and Store Closures
« Reply #7 on: March 08, 2018, 07:16:17 PM »

The situation for Toys R Us may be getting that much more bleak.  Read THIS BLOOMBERG ARTICLE about what may be the impending liquidation of the entire U.S. chain.
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