Toys r us RIP !! Look How Star Wars Toys partially Killed off TRU
Toys r us RIP – Star Wars Toys partially Killed off #toysrus RIP !! It’s actually really sad to see one of our giant competitors crumble !! It was always fun going to Toys R Us stores as a kid and drooling over the Marvel & Transformers Figures.
Just the sheer selection would always overwhelm me.Even as a Adult taking my niece & nephew to their stores brought a smile to my face !! The glint in their eyes seeing the massive selection of Toys like Lego,Barbie,Hot Wheels, RC Toys, Star Wars Toys,Marvel Toys, Transformers and all the other cool stuff they stocked.
But could their heavy Investment in Lucas Films Star Wars Toys be a major reason for their demise ..?? In this video we look at just one of the Toys R Us Stores with literally 1000’s of Star Wars Toys not even selling for a buck !! Now multiply the overstock Star Wars Toys by 800 stores and you get a clearer picture where this toy power house went wrong. TRU we will miss you !!
Toys R Us is expected to tumble into administration next week after last ditch talks to find a buyer faltered.
The move will put 3,200 jobs at risk and follows the recent decision by its bankrupt American parent to try to sell the loss-making UK business as well its other European stores.
The troubled retailer had been trying to drum up a buyer before the end of the month when several payments, including a £15m VAT bill, fall due.
In September Toys R Us American parent filed for bankruptcy protection in the US and Canada after running up $5bn (£3.7bn) of debts and struggling to compete online. It is trying to restructure its finances and is closing hundreds of US stores.
The UK chain has been struggling for the same reasons as its parent, with shoppers shunning the large out-of-town sheds synonymous with the Toys R Us brand in favour of buying online or from supermarkets. The retailer’s most recent accounts showed an operating loss of £500,000 on sales of £418m.
Toys R Us is an international toy, clothing, and baby product retailer owned by Tru Kids, Inc. (d.b.a. Tru Kids Brands) and various others. It was founded in April 1948, with its headquarters located in Wayne, New Jersey, in the New York metropolitan area.
Founded by Charles Lazarus in its modern iteration in June 1957, Toys R Us traced its origins to Lazarus’s children’s furniture store, which he started in 1948. He added toys to his offering, and eventually shifted his focus. The company had been in the toy business for more than 65 years and operated around 800 stores in the United States and around 800 outside the U.S., although these numbers have steadily decreased with time. At its peak, Toys R Us was considered a classic example of a category killer. However, with the rise of mass merchants, as well as online retailers, Toys R Us began to lose its share of the toy market.
The company filed for Chapter 11 bankruptcy protection on September 18, 2017, and its British operations entered administration in February 2018. In March 2018, the company announced that it would close all of its U.S. and British stores. The British locations closed in April and the U.S. locations in June. The Australian wing of Toys “R” Us entered voluntary administration on May 22 and closed all of its stores on August 5, 2018. Operations in other international markets such as Asia and Africa were less affected, but chains in Canada, parts of Europe and Asia were eventually sold to third-parties.
The company continues to operate as the licensor of the chain’s international operations, but its lenders announced in October 2018 that it planned to re-launch the U.S. Toys “R” Us retail business in the future. The lenders also partnered with Kroger to add “Geoffrey’s Toy Box” (named after the chain’s mascot) pop-up departments to selected locations in order to give Toys “R” Us a presence during the holiday shopping season. On January 20, 2019, the company emerged from bankruptcy as Tru Kids.To date, there are only two locations open in the United States.source wiki
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Look How #StarWarsToys partially Killed off #Toysrus RIP !! #toys #toyshop #starwars #jedi #hasbro #hasbrotoys
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