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Author Topic: Toys R Us - Bankruptcy, Store Closures & Liquidation  (Read 1245 times)

Nicklab

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Re: Toys R Us - Bankruptcy and Store Closures
« Reply #6 on: February 28, 2018, 06:19:46 AM »

More on the Toys R Us bankruptcy and store closings in this article:  Toys R Us reportedly planning more store closings, corporate layoffs.  The news of more store closings seems to focus on some UK stores.  And the size of the chain may diminish from 880 locations to about half that size.

In addition to stores closing, bear in mind that Toys R Us corporate headquarters is located in Wayne, NJ.  And corporate layoffs will affect some people in the North Jersey area.
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Nicklab

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Re: Toys R Us - Bankruptcy and Store Closures
« Reply #5 on: February 22, 2018, 06:24:30 AM »

There's news about the potential for more Toys R Us store closures, and it may mean as many as another 200 stores will be closing.
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Nicklab

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Re: Toys R Us - Bankruptcy and Store Closures
« Reply #4 on: January 24, 2018, 06:16:04 AM »

Check out this CNBC article which has a list of Toys R Us stores that are set to close.

Toys R Us to close 180 stores across the US
Toys R Us is planning to shutter roughly 180 stores across the country, or about one-fifth of its U.S. store fleet.

The closures are scheduled to begin in early February and run through mid-April.

The retailer hopes to restructure and emerge from bankruptcy.


Here are the stores in New Jersey that are slated to close.  Most are Babies R Us locations, but there are some TRU locations set to close.

TOYS R US / BABIES R US - 1280 Rt. 22 & St. James Ave., Phillipsburg NJ

TOYS R US - 137 Route 35, Eatontown NJ

BABIES R US - 100 Promenade Blvd., Bridgewater NJ

BABIES R US - 2700 Route 22 East., Union NJ

BABIES R US - 909 US Hwy 1 South., North Brunswick NJ

TOYS R US - Rt. 541 & Cadillac Road, Burlington NJ

BABIES R US - 2135 Route 38, Cherry Hill NJ

TOYS R US - 7 Wayne Hills Mall, Wayne NJ

BABIES R US - 545 Route 17 South, Paramus NJ

BABIES R US - 98 Route 10 West., East Hanover NJ

TOYS R US - Kids World 900 Center Drive, Elizabeth NJ

BABIES R US - 50 International Drive South, Mt. Olive NJ
« Last Edit: January 24, 2018, 02:51:28 PM by Nicklab »
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Re: Toys R Us - Possible Bankruptcy
« Reply #3 on: December 20, 2017, 09:06:40 PM »

More news about Toys R Us in THIS BLOOMBERG ARTICLE.  The chain appears to be set to close between 100 and 200 stores.  There are nearly 900 stores in the TRU chain as of this past January.
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pakledjim

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Re: Toys R Us - Possible Bankruptcy
« Reply #2 on: October 02, 2017, 02:48:06 PM »

Here's TRU's solution on how they will get themselves out of bankruptcy. Sounds like crap to me. Don't think it will help. How about opening earlier, that's a start.
http://www.msn.com/en-us/money/companies/toys-r-uss-plan-to-save-itself-is-unreal/ar-AAsM12W?li=BBnbfcN&ocid=mailsignout
Quote
All you have to do to feel the rush of racing a truck, watch wildlife while on safari, and nab a shark while fishing is head over to your local Toys R Us store. Just don't forget your smartphone.
Two weeks after filing for bankruptcy protection, the toy giant is debuting an augmented reality experience that it hopes will help reinvigorate its stores and make them destinations for shoppers who might otherwise choose to shop online.
The AR activities - which plant computer generated images on top of a real world environment - tap into the interest sparked by the Pokemon Go craze last year. They will go live at 23 Toys R Us stores on Monday and then nationwide on Oct. 21.
Experiences may be key to company's turnaround 
While the AR experience was being developed months before the company filed for Chapter 11 protection to deal with $5 billion in long-term debt, efforts to make the retailer's roughly 1,600 stores more interactive will be key to the company's turnaround, says CEO Dave Brandon.   
It's going to transform the experience of coming into a Toys R Us bricks and mortar store and turn it into something that’s quite different and a lot more fun,'' Brandon told USA TODAY. "We believe that’s going to drive a lot more traffic into our stores which will ultimately put us in a position where we can be more successful at growing our sales and our company.’’
An app will be the key to unlocking AR activities at 13 stations throughout the store.
Geoffrey, the Toys R Us mascot, will greet customers virtually, giving them instructions on what to do. Young shoppers, guided by flashing icons and stickers on the floor, will point their tablet or smartphone at a sign on a shelf. Once the sign is scanned, a toy or activity will come to life on the screen.
In the baby doll aisle, for instance, a cooing, virtual version of a doll on the shelf can be adopted, given a name, and even have its dirty diaper changed. in the basketball station, kids can sweep a ball into the hoop with a swipe of the screen, and compare their scores with others on a leaderboard.
Each activity allows shoppers to rack up stars, and the more they earn, the more experiences they can tap into.
A One-time Pioneer Trying to Reinvent Itself
It's a deeper dive into technology for the toy giant, a pioneer in the 1950's and 60's when it essentially became the first big-box toy retailer. In recent years the company has fallen behind online giant Amazon and rival Walmart who now have a greater share of the retail toy market.
In response, Toys R Us has upgraded its website, emphasizes its expertise and is trying to turn its stores into hubs of activities that go beyond shopping.
Analysts agree that if the store chain is going to compete, it is critical that it come up with unique experiences that entice a tech-savvy generation to stroll its aisles.
"It’s vital for Toys R Us to give consumers reasons to visit its stores,'' says Neil Saunders, managing director of retail for the consultancy GlobalData. "This can only be achieved by spaces that offer experience and excitement. The current big warehouse type model just doesn’t cut it. It offers no compelling reason to visit over buying online.''
Next Up? Playrooms
Later this fall, Toys R Us says that it will open playrooms at 42 stores where children can try out games and gadgets, and toy demonstrators will be on standby.
Brandon says that he doesn't believe that “any one of these programs that we're both testing and rolling out is a silver bullet . . . that’s going to dramatically change trends.''
But he added, "bringing our stores to life and creating engaging experiences for our customers is a business strategy . . . That strategy was in place before we filed to restructure the company, and it will be one that will continue with increasing amounts of investment as we move forward.’’
Holiday shelves will be full despite bankruptcy
More urgently, the new experiences could help build buzz that encourages wary shoppers to visit Toys R Us this holiday season despite the bankruptcy filing.
"A lot of people hear the word bankruptcy and they immediately conclude that the brand or the company is going to go away,'' Brandon says.
To the contrary, he says, the company is working with its hundreds of vendors as it begins the restructuring process, and this holiday season "our shelves will be stocked. We're going to be as strong as we ever have, not only for this holiday season but for holiday seasons to come.''
Toys R Us will debut its new augmented reality experience at these 23 stores on Monday.

1.      Toys“R”Us Allen – 170 E. Stacy Road, Allen, TX
2.      Toys“R”Us Yonkers – 1000 Central Park Ave, Yonkers, NY
3.      Toys“R”Us Amherst – 3030 Sheridan Drive, Amherst, NY
4.      Toys“R”Us Cary – 201 Crossroad Boulevard, Cary, NC
5.      Toys“R”Us Greece – 1530-1550 Ridge Road West, Rochester, NY
6.      Toys“R”Us Henrietta – 654 Hylan Avenue, Henrietta, NY
7.      Toys“R”Us Lincoln – 5220 N. 27th Street, Lincoln, NE
8.      Toys“R”Us Rockford – 6449 E. State, Rockford, IL
9.      Toys“R”Us E. San Jose – 2179 Monterey Road, San Jose, CA
10.   Toys“R”Us Elk Grove – 8507 Bond Road, Elk Grove, CA
11.   Toys“R”Us Times Square – 1466 Broadway, New York, NY
12.   Toys“R”Us Secaucus – 3 Mill Creek Drive, Secaucus, NJ
13.   Toys“R”Us Elizabeth-KidsWorld – 900 Ikea Drive, Elizabeth, NJ
14.   Toys“R”Us Paramus II – 634 Rt. 17 North (at Ridgewood Ave), Paramus, NJ
15.   Toys“R”Us Totowa – 445 US-46, Totowa, NJ
16.   Toys“R”Us Wayne – 7 Wayne Hills Mall, Wayne, NJ
17.   Toys“R”Us Citrus Park – 12845 Citrus Plaza Drive, Tampa, FL
18.   Toys“R”Us Brandon – 330 Brandon Town Center Drive, Brandon, FL
19.   Toys“R”Us Lakeland – 3770 US-98  North, Lakeland, FL
20.   Toys“R”Us Raleigh – 7810 Poyner Pond Circle, North Raleigh, NC
21.   Toys“R”Us Durham – 3330 Westgate Drive, Durham, NC
22.   Toys“R”Us Long Island City – 3540 48th Street, Long Island City, NY
23.   Toys“R”Us Flatbush – 2875 Flatbush Avenue, Flatbush, NY
 

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Nicklab

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Toys R Us - Bankruptcy, Store Closures & Liquidation
« Reply #1 on: September 18, 2017, 02:31:16 PM »

Check out the news from Business Insider.


Toys R Us could file for bankruptcy this week

by Dennis Green
 The toy retailer Toys R Us may be on the brink of filing for bankruptcy.

It's one of several options the chain is considering to pay down $5 billion in debt it owes as a result of a leveraged buyout in 2005, according to The Wall Street Journal.

And a filing could come as soon as this week, according to a new report from CNBC's Lauren Hirsch.

The chain's trio of owners — the private-equity firms Kohlberg Kravis Roberts and Bain Capital Partners and the real-estate investment trust Vornado Realty Trust — bought the company in a deal worth $6.6 billion, taking it private.

CNBC previously reported that the chain had hired the law firm Kirkland & Ellis LLP, and that it was exploring options to take care of its debt and working with its creditors to stave off filing for Chapter 11 bankruptcy protection.

Chapter 11 protection would allow the company to restructure $400 million in debt due in 2018 then renegotiate the rest, according to CNBC.

The debt crisis looms at a critical time for the toy seller. Toys R Us last year made 40% of its sales in the fourth quarter, thanks to holiday shopping. Vendors are feeling increasingly anxious about the chain's ability to pay down its debts, according to the reports, which could lead to a shortage of toys to stock its shelves and further exacerbate the issue.

Toys R Us has also struggled as it increasingly competes with online retailers in its two main businesses: baby goods and toys.

A Toys R Us representative did not immediately respond to a request for comment.
« Last Edit: March 18, 2018, 06:21:17 PM by Nicklab »
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