Toys R Us closing all 800+ US stores

[buttheadsmate]

What is happening to ToysRUs is unfortunately a sign of the times & although the company was never 'part of my life' I can fully understand why many of you feel the way you do . 

In my lifetime I've seen the demise of the typical 'English pub' so I know all about 'loss '

 

That said I wouldn't get too despondent because I'm pretty confident that something will rise from the ashes .  

Americans spend $22 billion on toys each year (source bizfluent) so I can assure you that someone somewhere is just itching to see how this all pans out for the company that has (had?) 18% of the retail market. 

 

 

 

Edited March 10, 2018 by buttheadsmate

[SCW]

Popped in to a local TRU, not my usual one, but one a little further away. Turns out it's one of the stores that's closing, but you really couldn't tell that. Didn't look bare or anything so I don't know when they started their "sales".

Anywho I was hoping to find the TRU Wave 25 (I think it is? The one with Jack O Lantern) but no such luck. My TRU is clogged with older figures so I doubt that wave will ever hit.

Store was PACKED with people. Madhouse. Like Christmas. 

Don't know if it was the rumors of TRU's demise, or the fact that this one was just starting to put stuff on decent clearance. I picked up quite a few Mates, prices weren't that great, but I'm a sucker for cheaper figures so I bought some extras.

But I was really shocked how busy the store was. Make of that what you will.

[Onyx_6]

I stopped out today and spoke with the manager at the Madison TRU. He is optimistic and said he is 80% confident that they will figure out the logistics and stay open. He said that they would know what would be happening on Monday some time. In the event TRU does close, there would be a 3 month window while they try to sell off merchandise during ‘liquidation.’

And it, too, was a very bust day in TRU here. One of the employees I know mentioned a Facebook post that he felt was really driving people in today. The biggest thing I feel TRU could do to help sales is let people know they are still open. 

[TENIME_art]

Yeah, I stopped at the one by my work the day of the "announcement," and there were no signs & nothing was discounted at all, but it was packed.

[bilbofett]

My TRU said something might come down Thursday.  No sales, just business as usual. If they do close sales will start in a couple of weeks. It could be weeks or a couple of months until they would close. I'm assuming they'll get some new product over the next week or two.

[SCW]

Yeah I should mention my anecdotal story, that the TRU I went to was already closing. It was part of the recent closure program.

And to be honest, I expect it to be a few months before that store even closes. Even though they were packed and lots of stuff was up to 30% off, lots of other stuff wasn't even on sale (Lego for example) and they were still stocking stuff. Whether it was new stuff or just clearing out the back or whatever I don't know, but they were nowhere near their last legs. The store was full of merchandise.

[fwoosheyman]

https://www.cnbc.com/2018/03/13/toys-r-us-is-preparing-to-file-its-liquidation-plan-with-the-court.html

Everyday it’s looking worse. Never in a million years would I have thought Kmart/Sears would outlast TRU. This is going to be devestating. 

[force2099]

Damn so what happens to the dst exclusives?

[fwoosheyman]

If they’ve already been manufactured DST will try to find a new home or sell them direct. Any non-produced ones will be shopped around and who knows if they’ll ever be made.

I hope DST does more on Amazon. Things like set up a store like NECA, get items to be pre-ordered on Amazon more easily, you can’t pre-order the Infinity War boxset on Amazon. I wouldn’t be surprised if DST tries some direct to consumer items too.

[youbastards]

30 minutes ago, fwoosheyman said:

If they’ve already been manufactured DST will try to find a new home or sell them direct.

If they've already been manufactured, that most likely means TRU has already "purchased" and owns the product.

Whether or not TRU has actually paid for the product is only known by DST's accountants, but I don't see a lot of viable scenarios where DST gets the product back from TRU to sell in other venues.

Most likely we are going to either get some crazy good going out of business deals, or the product will disappear for months and eventually resurface at discount retailers like Dollar Stores, 5 Below, TJ Maxx, etc...

 

[SCW]

Or literally end up in a landfill somewhere. 

[fwoosheyman]

39 minutes ago, SCW said:

Or literally end up in a landfill somewhere. 

It could become famous like the Atari ET game landfill. 

 

[MisterPL]

Maybe an interested etailer could buy the assortments at close-out prices and make them available online.

[buttheadsmate]

The news here (UK) today is that ALL ToyRUs stores in the UK are to close , 25 will be closed by tomorrow whilst the remaining 75 will be closed within the next 6 weeks.

Edited March 14, 2018 by buttheadsmate
clarification

[MisterPL]

http://www.bbc.com/news/business-43401674

[SCW]

It's confusing because that BBC article almost makes it like the UK TRU shutdown is completely separate from the US one. I'm sure there's a relation but it's odd. Sounds like the UK division has been trying to sell off for a while.

[MisterPL]

And now MGA Entertainment is entering the fray to try to save Canadian (and possibly U.S.) stores:

https://www.bloomberg.com/news/articles/2018-03-14/toymaker-trying-to-rally-industry-to-bid-on-toys-r-us-canada

[youbastards]

https://www.washingtonpost.com/news/business/wp/2018/03/14/toys-r-us-to-close-all-800-of-its-u-s-stores/?utm_term=.8dbbe9987a1f

A portent of things to come?

“We know that customers are willing to pay more for an enjoyable experience — just look at the lines at Starbucks every day — but Toys R Us has failed to give us anything special or unique,” said O’Keefe, the Virginia Commonwealth University professor. “You can find more zest for life in a Walgreens.”

 

Edited March 14, 2018 by youbastards

[Ronan The Accuser]

I’m still in shock over this situation and how quickly it spiraled downward. I never would have believed TRU would close for good in my lifetime. I’ve still got a healthy denial going and keep hoping something happens to change all of this. It’s not looking good though.

[youbastards]

And announced on Pi day....oh the irony.

 

[Mystery Man]

Damn it all. A lot of good people are going to be hurt by this, including a lot of kids.

Edited March 14, 2018 by Mystery Man

[Nessex]

Wow - I didn't think this would actually happen. I'm a bit flabbergasted. I'm shocked that there really isn't a way for a toy-specific emporium to keep going.
Despite how hard they were for an Australian to track down, TRU gave me some of my most treasured and obscure minimates. Union Jack. Klaw. Box?!?! Boomer, for heavens sake. BOOMER! 
Sad to see them go. I hope DST can find another avenue for the waves that would have gone to TRU.

[SCW]

Eh, while I'm sure it's still happening... Nothing has been officially announced. Today's "story" is basically a reprint of last week's story. 

Until TRU announces it, it's still speculation at this point.

I did hear that all the Canadian and possibly several hundred of the US stores could be sold.

[Mattallica]

2 hours ago, youbastards said:

And announced on Pi day....oh the irony.

 

huh?

[stack32]

Well, the WSJ and CNN are reporting the CEO notified employees that the company "will will shut or sell all of its almost 800 stores" so even though it's not quite official there's very little room left for doubt. This is bad news for DST overall, I just hope the product already announced can be saved somehow.