Toys 'R' Us going out of business
- 6 years ago
WAYNE, NEW JERSEY — Toys R Us is sadly calling it quits, bringing an end to iconic toy store which dominated the industry for decades.
The big-box retailer was unable to get its finances in order through bankruptcy and broke the news to employees in a conference call it was going to sell or close all U.S. stores, according to Wall Street Journal.
The 70-year-old chain still has more than 700 stores across 'Murica, including Babies 'R' Us locations. It still has more than 30,000 employees.
Saddled with debt from a 2005 buyout, a triple combo from Walmart, Target and Amazon on top of garbage holiday sales was just too much in the end.
As consumers gravitate online, brick and mortar stores have struggled to keep up. Who will be left when the dust finally settles?
Guess we can't all be Toys R Us kids.
The big-box retailer was unable to get its finances in order through bankruptcy and broke the news to employees in a conference call it was going to sell or close all U.S. stores, according to Wall Street Journal.
The 70-year-old chain still has more than 700 stores across 'Murica, including Babies 'R' Us locations. It still has more than 30,000 employees.
Saddled with debt from a 2005 buyout, a triple combo from Walmart, Target and Amazon on top of garbage holiday sales was just too much in the end.
As consumers gravitate online, brick and mortar stores have struggled to keep up. Who will be left when the dust finally settles?
Guess we can't all be Toys R Us kids.