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The toy giant is working with attorneys at the firm Kirkland and Ellis to deal with $400 million in debt due by the end of this year, according to a source familiar with the matter. Half of its debt obligation is due this fall, with the remaining $200 million due to be paid back near the end of December.
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Toys "R" Us has dealt with a heavy debt load since it became a private company in 2005. Its private equity investors, KKR, Bain Capital, and Vornado Realty Trust, initially planned to recoup their investment with a public stock offering within three years, but that plan fell through when the Great Recession hit.
The owners brought in a new chief executive, Dave Brandon, in 2015 to helm a turnaround that could set the company up for either another attempt to go public, or a sale.
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The toy store chain's long-term debt was $5 billion as of April 29. It had $701 million in liquidity, which included $400 million in committed lines of credit.
dragons wrote:That blows how is it possible they better selection for any toys out there Walmart sucks for toy shopping
shajaki wrote:This is #$@*ing heartbreaking. For the love of Primus, all Canada has is TRU and Wal-Mart!!!
MagicDeath wrote:GUYS! Even if TRU explodes, toy companies (Hasbro) will still need to put their toys somewhere, and will therefore probably just make Wal-Mart have a better toy selection or something. Hasbro isn't just gonna go: 'Oh, our main outlet is gone. Guess we'll just keep that large percentage of toys at the factory. Or pack up and leave.'
Terrsolpix wrote:Going off of what Jelze said, do be sure to support ToyRUs if possible. They're restructuring, and every purchase can only help balance everything. Considering MP-10? Don't get the eBay auction, try to find it in stores. Wanting wave 2 TLK voyagers? Skip Walmart and go to ToysRUs. Found Infernocus but are on the fence? Strike whole you can because there might not be a place to get him come Christmas.
JelZe GoldRabbit wrote:Some of you seem to think Toys 'R Us going will go belly-up within the next few weeks. It will not in the short run.
Restructuring basically means getting one's finances in workable order by shuffling assets around, to free up capital needed to pay off a certain debt. It is true that could end up turning into the first step to bankruptcy, but that's just what it is: a first step. No need to panic just yet, but it would be prudent to keep tabs on them, especially when the final due date in December has come and gone. If they're unable to pay off those debts, things will get dicey for sure, but it will not be over until Chapters get flung around, especially Chapter 7.
Terrsolpix wrote:Going off of what Jelze said, do be sure to support ToyRUs if possible. Considering MP-10? Don't get the eBay auction, try to find it in stores. Wanting wave 2 TLK voyagers? Skip Walmart and go to ToysRUs. Found Infernocus but are on the fence? Strike whole you can because there might not be a place to get him come Christmas.
karyuudo wrote:There's also the other issue with the shrinking child population out there.
Caelus wrote:karyuudo wrote:There's also the other issue with the shrinking child population out there.
I'm not seeing much evidence that's the case. It declined between 2010 and 2011, was then remarkably stable until 2016, and is now projected to grow:
https://www.childstats.gov/americaschil ... s/pop1.asp
karyuudo wrote:Caelus wrote:karyuudo wrote:There's also the other issue with the shrinking child population out there.
I'm not seeing much evidence that's the case. It declined between 2010 and 2011, was then remarkably stable until 2016, and is now projected to grow:
https://www.childstats.gov/americaschil ... s/pop1.asp
Perhaps due to immigration?
Terrsolpix wrote:Going off of what Jelze said, do be sure to support ToyRUs if possible. Considering MP-10? Don't get the eBay auction, try to find it in stores. Wanting wave 2 TLK voyagers? Skip Walmart and go to ToysRUs. Found Infernocus but are on the fence? Strike whole you can because there might not be a place to get him come Christmas.
karyuudo wrote:There's also the other issue with the shrinking child population out there. Most folks who buy toys into their adulthood started because they did so as a kid. If there's no kids to buy your toys, who's going to be your market?
karyuudo wrote:Perhaps due to immigration?
william-james88 wrote:Terrsolpix wrote:Going off of what Jelze said, do be sure to support ToyRUs if possible. Considering MP-10? Don't get the eBay auction, try to find it in stores. Wanting wave 2 TLK voyagers? Skip Walmart and go to ToysRUs. Found Infernocus but are on the fence? Strike whole you can because there might not be a place to get him come Christmas.
All these problems TRU is having are at the internal level, with investments that were too late or not paying off. Buying a toy now wont change anything. The company indebted itself greatly at the begining of the new millenia and were then sold to investors who had no clue how to run a retail giant and had only bought it to sell it later at a profit instead of long term growth. It was a short term strategy that didnt pay off and instead indebted them more.karyuudo wrote:There's also the other issue with the shrinking child population out there. Most folks who buy toys into their adulthood started because they did so as a kid. If there's no kids to buy your toys, who's going to be your market?
Child population has been stable globally for years now. Plus Hasbro keeps reporting record healthy numbers with the low box office yield of The Last Knight not affecting toy sales.
Everything is pointing to there being a problem with TRU themselves and their management, not the toy industry.karyuudo wrote:Perhaps due to immigration?
Toysrus and Hasbro are both worldwide brands, so immigration is a moot point.
Kyleor wrote:Toys R Us really needs to get some people on staff/in control who understand real-world retail, instead of the usual cubicle/office jockeys who make decisions yet have no idea how retail works in actual physical stores. Sadly they're a company who just sends back useless lip service when you send them feedback on issues with their stores, or how things could be changed to improve the customer experience, or increase profits, or decrease theft. You'd think ways of decreasing theft would be something they'd jump on, but nope.
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