Toys "R" Us files for bankruptcy protection due to debt, relentless competition

Toys R Us Files for Chapter 11 Bankruptcy

"Like any retailer, decisions about any future store closings - and openings - will continue to be made based on what makes the best sense for the business", a spokesman said.

Here's what it means to be the largest specialty toy and baby goods retailer in the USA in 2017: 866 stores nationwide, Chapter 11 bankruptcy, and getting dominated online by Amazon. It also points out that its online stores for Toys R Us and Babies R us will remain open.

The move would ensure the Canadian subsidiary of the global toy retailer - which applied for creditor protection in the US on Monday and in Canada a day later - has an uninterrupted supply of merchandise as it heads into the busy holiday shopping season. And they say the company should have also thought of new ways to attract more customers in its stores, such as hosting birthday parties. It has struggled with debt since private-equity firms Bain Capital, KKR & Co and Vornado Realty Trust took it private in a 6.6bn dollar buyout in 2005. Initiatives include improving its website and revamping its Babies R Us business, by focusing on items like cribs that are less likely than diapers to be sold on Amazon.

Muller said the company's sales cost for the last quarter is around $3 billion, making it the nation's second-largest toy retailer, following Amazon.com, Inc.

Analysts said buyers have moved online over the years, as well as choosing home delivery, while discounters like Wal-Mart and Target have captured market share. S&P Global Ratings dropped its ratings this Monday from B- of two weeks ago to CCC-, with news about Toys "R" Us' possible restructuring as the reason.

Toys 'R' Us Has Officially Filed For Bankruptcy Protection
Toys "R" Us hopes the move will allow it to effectively restructure its debts , ultimately turning the failing business around. More than a dozen retail bankruptcies have been reported this year, but none of the retailers are in the Toys "R" Us league.

The Handmaid's Tale, Veep win top Emmy Award prizes
NBC's "The Voice" won the third consecutive Emmy for outstanding reality-competition program. Plenty of history was made at the Emmys Sunday night.

USA women hit by acid attack in southern France
In total, fourteen firefighters arrived on the scene at Marseille's main railway station, which is one of the busiest in France. French media reports are describing the attacker using the word "déséquilibré", meaning a psychological imbalance.

Toys "R" Us, the largest specialty USA toy seller, filed for bankruptcy on Monday after some of its vendors stopped shipping to them.

The company has also filed a number of other motions with the bankruptcy court to ensure they can continue their normal operations, such as paying employees, honoring customer programs, and pay vendors and suppliers.

Instead of differentiating itself by creating tons of in-store experiences that bring families into stores for more than just purchases, Toys "R" Us has largely tried to beat Amazon and Walmart at their own games.

I'm sure I'm not the only one my age who feels a little bad for Toys R Us. Don't worry, though. The stores are trying to power through to the holiday season. While some kids went to arcades, I went to Toys R Us where kids would have random tournaments in Mario Kart 64 or GoldenEye.

Yes. Your "R" Us Credit Card will continue to be accepted. That company is responsible for selling Transformers and Nerf and has outdone Mattel so far this year. US toy sales rose 6 percent last year on top of a 7 percent increase in the prior year, according to NPD Group Inc., a market research firm. "Everyone wants this to not be real or a temporary blip".

Related news:

Hot News

isis-killer-beheading-video-story-top FPL promises full power restoration by Tuesday after Irma
Sep 20, 2017 - 01:08
Georgia Power wants to remind customers to be aware of potential scams during the statewide recovery from Hurricane Irma . Irma , which struck on September 10, affected millions of residents and downed power lines across the state.

isis-killer-beheading-video-story-top The US just turned up the heat on Russian warplanes in Syria
Sep 20, 2017 - 01:07
It said "shock troops" had already captured several villages on the river's eastern bank from ISIL and were pushing further east. It was razed in part to prevent it being used by another military force, a USA official said.

isis-killer-beheading-video-story-top Spain expels North Korean ambassador
Sep 20, 2017 - 01:04
The U.S. should cease threats against North Korea and do more to resolve the crisis, China's ambassador to the U.S. The White House has denied reports that Trump has changed his mind about withdrawing the USA from the accord.

isis-killer-beheading-video-story-top U.S. could remain in Paris climate deal, says Rex Tillerson
Sep 20, 2017 - 01:03
Rex Tillerson said the United States would stay in the agreement "if we can construct a set of terms that we believe is fair". The U.S. delegation was led by Everett Eissenstat, deputy assistant to the president global economic affairs.

isis-killer-beheading-video-story-top Depth at quarterback once again an issue for Auburn Tigers
Sep 19, 2017 - 01:18
White finishes his Auburn career with a 61.5 percent completion percentage, 2,845 passing yards and 198 rushing yards in 18 games. White sat out the first two games of the 2017 season following a suspension from play.

isis-killer-beheading-video-story-top Kevin Durant's Twitter account bashes coach and players
Sep 19, 2017 - 01:16
On Sunday night, a series of unusual tweets came from Durant's verified account. And then: "Imagine taking Russ off that team, see how bad they were".

isis-killer-beheading-video-story-top Using Pirate Bay? Your computer might be hijacked
Sep 19, 2017 - 01:15
The report said that CPU usage of their system increased dramatically when they were browsing certain pages on The Pirate Bay . There is a way around this as users have reported that this theft can be countered by using programs like Adblock.

isis-killer-beheading-video-story-top Marvel vs. Capcom: Infinite Unveils its Last Four DLC Characters for 2017
Sep 19, 2017 - 01:14
Capcom Infinite's first Season Pass will feature these 6 characters that will launch after the release of the game. In a statement to GameStop , Capcom confirmed the last four characters that will be coming as DLC.

isis-killer-beheading-video-story-top Trump to stump for odd in Huntsville
Sep 19, 2017 - 01:11
Senate together for the last several months after odd was appointed to the position by former Alabama Governor Robert Bentley. I feel his anger in winning the Republican nomination and going to Congress and having Republicans turn their backs on him.

isis-killer-beheading-video-story-top Three ways that Liverpool could rotate against Leicester in the Carabao Cup
Sep 19, 2017 - 01:10
"There is no rush but we are in this three-game-a-week rhythm and during the global break he was with the national team". However, Dejan Lovren, who missed the stalemate with Burnley with a back injury, is likely to miss out.

isis-killer-beheading-video-story-top Lukas Podolski Backs Cologne Supporters Amid Unrest at Arsenal Match
Sep 18, 2017 - 01:09
I think they should be alright. "I don't understand why they can't fight for the title". They lost only one player now, [Alex] Oxlade-Chamberlain.

isis-killer-beheading-video-story-top Who Will Win Big At This Year's Primetime Emmy Awards?
Sep 18, 2017 - 01:09
The 69th annual Primetime Emmy Awards ceremony are kicking off with the Emmys red carpet . If you have plans to watch the Emmys on Sunday night, then this is the post for you.

isis-killer-beheading-video-story-top PM Modi inaugurates Sardar Sarovar Dam in Gujarat
Sep 18, 2017 - 00:58
Gadkari signed off by congratulating the people of Gujarat, Madhya Pradesh, and Maharashtra, who will benefit from the project. The construction of the project began in 1987 and was suspended in 1996 following a ruling by the Supreme Court.

isis-killer-beheading-video-story-top Lascelles hails Newcastle character for Stoke win
Sep 18, 2017 - 00:52
But Lascelles, who headed the victor from a Ritchie corner at Swansea, did the same again on 68 minutes to earn the praise of his manager.

isis-killer-beheading-video-story-top Florida punter, linebacker eviscerate Tennessee with two short tweets
Sep 18, 2017 - 00:51
The loss is particularly painful after another furious fourth quarter comeback in which the Vols rallied from 10 down twice. The final play capped a insane fourth quarter in which the teams combined for 37 points and little, if any, defense.