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Toys R Us Trying to Sell Canadian and US Operations While Simultaneously Starting Liquidation

Transformers News: Toys R Us Trying to Sell Canadian and US Operations While  Simultaneously Starting Liquidation
Date: Thursday, March 15th 2018 10:43am CDT
Category: Company News
Posted by: william-james88 | Credit(s): http://www.wfmj.com

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If anyone ever wanted all the details on the Toysrus bakrutcy court hearing, well today is your lucky day since WFMJ.com got their hands on the 124-page filing in U.S. Bankruptcy court. It states the reasons as to why Toysrus has to start liquidating its stores right away, which incudes "2017 U.S. holiday sales [that] came in well below worst case projections". The sales were 250 Million less than projected.

Employees have been given a 60 day notice to employment termination, which means that they will at least be paid for 60 more days (regardless of whether or not the stores will remain open for 2 more months).

It is unsure if gift cards will be honoured since it is not part of the instructions but it is being urged by state governors.

What is part of instructions though, is the description of a deal Toys R Us is currently in the middle of. While a liquidation must happen, it is simultaneously working on a deal to sell 200 US stores along with their entire Canadian operations (which is a very hot commodity right now) to a some interested parties.

While the US operations are unatractive to investors, the lack of competition in Canada and overal better managed stores, have made those stores very profitable (to the point of having a surplus which went towards repaying debt owed by the US operations) and that has attracted several investors. So Toys R Us might survive afterall, but it would be a smaller company and a predominantly Canadian one. We have included the most important part of the 124 page document below, which illustrates this plan, but you can read the entire file here.

In the face of these extraordinary circumstances, further waivers of covenant
defaults are unobtainable. The B-4 lenders—the primary economic stakeholders with respect to
the U.S. collateral—have determined that the best way to maximize their recoveries is to liquidate
the existing inventory in all of the Debtors’ 735 remaining U.S. stores and begin an orderly
wind-down of the U.S. operations. To be clear, the Debtors are not precluding the prospect of any
going concern option for U.S. stores.

In fact, the Debtors have developed a potentially
value-maximizing transaction that would combine up to 200 of the top-performing U.S. stores
(primarily those operating under the side-by-side format similar to the stores operating in Canada) with a going-concern transaction for their Canadian operations. The Debtors are currently
engaged with certain interested parties, including the B-4 Lenders, regarding this transaction and
are hopeful that such a transaction can develop as part of the sale of their Canadian
operations


But because time is of the essence to mitigate losses and maximize recoveries to U.S.
stakeholders, the Debtors regrettably must move forward with implementing a wind-down while
simultaneously pursuing a going-concern transaction tied to Canadian operations.
Accordingly, by this Motion, the Debtors are taking the prudent and responsible
step of seeking authority to begin an immediate and orderly liquidation of their U.S. business and
to sell the Debtors’ equity interest in the Canadian operations.


In short, there is too much of an interest by investors to close Toys R Us Canada, which will instead be sold. What is unknown now is if the buyer will only buy the Canadian operations or also buy 200 US stores as part of the bundle. If that works out, and Canadian practices are applied to those 200 US stores, what you see below may be found in the US as well one day.

Transformers News: Toys R Us Trying to Sell Canadian and US Operations While  Simultaneously Starting Liquidation

Toys R Us Closing all US Stores, Other Countries Likely Affected [UPDATE]

Transformers News: Toys R Us Closing all US Stores, Other Countries Likely Affected [UPDATE]
Date: Wednesday, March 14th 2018 6:35pm CDT
Category: Company News
Posted by: Qwan | Credit(s): CNN Money

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[UPDATE: The Wall Street Journal has a quote from Chief Executive David Brandon on the matter of Toys R Us stores in other countries. Brandon says that the company is likely to liquidate in France, Spain, Poland and Australia, and has plans to sell its Canadian, Central European and Asian arms. The only real light in the tunnel here is the prospect of purchase; the company is currently attempting to find a buyer for a 'package' of sorts, comprised of its Canadian branch along with 200 US stores. Other countries' stores may also find themselves saved if a buyer happens to come along - Brandon has said that "all anyone has to do is offer one dollar more” than liquidation firms - but this is still not anywhere near a guarantee that Toys R Us stores are safe anywhere in the world.]

Sad news today, Seibertronians. After months of tension regarding its fate since September last year, Toys R Us has finally made the decision to sell or close all of its US stores, as reported by CNN. This comes not long off the heels of their postponed decision on Monday, but now we know the answer for certain and it's not a heartening one.

Employees have already been notified by the company's CEO, as the Wall Street Journal reports. There is not yet any word on how this will affect Toys R Us' business in Canada and other countries, though with Toys R Us expected to close all UK stores in the coming weeks as well, things aren't looking too good for the brand at large.

From a more Transformers-centric perspective, it's also unclear how this will affect Toys R Us-exclusive figures like the extremely recent Studio Series Thundercracker, and fans' attempts to acquire them. There's a lot of uncertainty going around right now, but with such a huge change as this, it's only to be expected that many things are in flux with no clear direction or solution.

Share your thoughts below in the Energon Pub if you have any perspectives on this issue, and you can be sure that Seibertron.com will be on hand to report on any further developments to this situation and its multitude of loose ends. Until next time Seibertronians, don't take your toys for granted.

Transformers News: Toys R Us Closing all US Stores, Other Countries Likely Affected [UPDATE]

All Toys R Us Stores Are Expected to Close Within 6 Weeks in the UK

Transformers News: All Toys R Us Stores Are Expected to Close Within 6 Weeks in the UK
Date: Wednesday, March 14th 2018 8:57am CDT
Category: Company News
Posted by: william-james88 | Credit(s): BBC

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The BBC has just reported that all UK Toys R Us stores are closing. This is due to no buyer willing to purchase this subsidiary. We had reported that it had fallen into administration and now we know officially of the chosen outcome and time frame.

We know the US is getting ready for a liquidation of their own but no official decision has been made yet. You can click here for the latest news on the US and Canadian front.

Here are the key points from the BBC article:

All Toys R Us stores in the UK are expected to close in the next six weeks following the chain's collapse into administration.

The BBC understands that attempts to find a buyer for the US retailer's 100 stores in the UK have failed.

Twenty five stores have either closed in recent days or are due to shut by Thursday.

The collapse will put more than 3,000 people out of work as a dismal period for the retail sector continues.


Transformers News: All Toys R Us Stores Are Expected to Close Within 6 Weeks in the UK

Decision For Toys R Us Postponed and New Statement From Toys R Us Canada

Transformers News: Decision For Toys R Us Postponed and New Statement From Toys R Us Canada
Date: Monday, March 12th 2018 8:47pm CDT
Category: Company News
Posted by: william-james88 | Credit(s): Financial Post and Primeclerk

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A lot is going on for Toysrus. Today was going to be quite critical with a decision in bankruptcy court that might involve closing their entire US operations. However, it turns out the hearing was adjourned with no decisions made and anything planned to be discussed today will be discussed Thursday the 15th instead.

NOTICE OF ADJOURNMENT OF OMNIBUS HEARING SCHEDULED FOR MARCH 12, 2018 AT 2:00 P.M. PLEASE TAKE NOTICE THAT all matters scheduled to be heard at the omnibus hearing set for March 12, 2018 at 2:00 p.m. (prevailing Eastern Time) are being adjourned to March 15, 2018 at 2:00 p.m. (prevailing Eastern Time) and that all matters set for the omnibus hearing on March 12, 2018 have been removed from the Court’s docket.


Many Canadians are concerned since unlike the experiences reported in the US, Toysrus in Canada has been a true haven for collectors. They would pick up any exclusive from retailers that were US specific (BBTS, Target, ect) and thanks to their pricing policy and discounts, it is currently the best place to buy Transformers in the country. So of course, Canadians are very worried with what will happen if the US parent company folds. Well, we have word from the VP of marketing of the subsidiary, Clint Gaudry:

Clint Gaudry wrote:Our business in Canada is operating as usual. We remain committed to providing customers with great service and the best assortment of merchandise in the toy and baby categories. We continue to serve our customers and honour all our customer policies and programs like Baby Registry, Gift Cards and R Club loyalty.


So that's good news for Toysrus Canada but this article from the Financial Post, which looks into the future of Toysrus Canada, and it seems there will definitely be a change regardless. For instance, if Toysrus Canada survives and continues on its own, not being part of a bigger corporation means prices are bound to go up to offset costs of no longer buying as big an order from suppliers.

Any prospective buyer of Toys “R” Us Canada would have to work with skittish vendors and a higher cost base. “Things would change without the U.S. business to support the Canadian unit, anything from marketing costs to merchandising costs,” without the economies of scale of a large bulk-buying parent Minakakis said.


Transformers News: Decision For Toys R Us Postponed and Update for Toys R Us Canada

IDW Publishing EIC Chris Ryall To Step Down

Transformers News: IDW Publishing EIC Chris Ryall To Step Down
Date: Friday, March 9th 2018 4:50am CST
Categories: Comic Book News, People News, Company News
Posted by: Va'al | Credit(s): Chris Ryall, Comics Beat

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There has been a lot of buzz over at IDW Publishing recently, with Transformers comics creators teasing some big news, then the New York Toy Fair 2018 Brand team dropping the 'wrapping up continuities' comment, and fans and readers speculating on what this might mean for the stories currently being told - and this piece does not feed into it at all, but does have some fairly big repercussions on the current era of the IDWverse: EIC Chris Ryall is stepping down, and leaving the publisher altogether.

The announcement comes from his own social media accounts after the news leaked out, and was then reported and covered by several comics news outlets such as Comics Beat - see below - and other creators thanking Ryall for his work with the publisher since 2004. For Transformers specifically, Ryall was in charge of pretty much the whole run up to All Hail Megatron, responses to letter columns, co-wrote Rom the Spaceknight into the Revolution event, and may or may not have been Alternators Windcharger all along.

We do not know what this change will mean for the IDW output, their stories, and the Transformers events specifically, but the various encounters that Seibertron.com has had with Ryall have been good, entertaining, professional, and we wish him all the best in his future ventures.

Transformers News: IDW Publishing EIC Chris Ryall To Step Down


[url]I've been trying to reply to the outpouring of well-wishes and amazing sentiments from so many of you but I'm finding I can't keep up with all of them and I'm pretty spent after a very emotional day. Hard to leave such amazing people as there are at IDW and throughout the creative community. I'll soon try to properly sum up how it feels leaving IDW after 14 years but for now, I'm going to shut it all off and just breathe a little. But thank you all--I wish I'd had some way and enough time to convey to everyone I've worked with who's meant so much to me and made such an indelible mark on me how special all of this time has been. But know that it's implied and deeply felt. This article has a partial (not intended for public consumption) statement from me:[/url]


A lot of changes suddenly at comics companies all over. I’ve just learned that Chris Ryall, formerly Chief Creative officer and Editor-in-Chief at IDW, has stepped down.

The move is entirely of his own volition, I’m told.

Ryall joined IDW in June of 2004, and oversaw its steady growth in both licensed comics and originals, as well as writing titles including Zombies vs Robots, Groom Lake, The Hollows, The Colonized, and Onyx, and licensed titles including Transformers.

Ryall wrote a farewell email to staff which included the following:

Through it all—through the deadline craziness, market fluctuations, assorted business challenges, social-media storms, new faces, new projects, and new challenges—it’s all served as a constant reminder how lucky I’ve been to contribute to this industry that I love so much. And I plan to keep making contributions outside these walls. But for now, I’m stepping aside to take a break, get off the never-ending-deadline train and see what new challenge makes the most sense as my next move. It might seem short at times, but 14 years is a long time to do anything — I’ve certainly never done anything else in my life for this amount of time.
There’s not enough time or space to catalog the various successes that have happened here in that time and really, there’s no need — they’ve all been parts of a whole that has made this place such a thrill to work at for as long as I have. The successes and fun vastly outweighed the stresses, which is really a testament to the place that Ted and Robbie and company built in the first place. I’m appreciative as can be for all the opportunities IDW has afforded me. It’s just time to figure out my next move, that’s all.
I remain excited about comics, about creating, and about giving people good reasons to keep reading and, separately, about seeing everything IDW is going to do next. I first noticed IDW’s books in its earliest days, impressed by the care and uniqueness that those early titles offered, so it’s been a thrill to join all of you to build things out in an even bigger way. And I look forward to once again being able to experience IDW’s output with a fresh eye.

While his next move isn’t yet known, as shown by the above, Ryall seems to want to stay in the comics biz. As shown by his words, Ryall is known as a classy, even tempered executive, and I don’t doubt that he’ll have many opportunities in front of him.

This is the latest of a strong of changes at IDW. Recently co-founder Ted Adams moved from publisher to CEO, while Greg Goldstein moved into the Publisher position. PR manager Steven Scott also recently left the company.

Developing.

Toys R Us debating whether or not it will close all of its US store locations

Transformers News: Toys R Us debating whether or not it will close all of its US store locations
Date: Thursday, March 8th 2018 9:34pm CST
Categories: Toy News, Company News
Posted by: william-james88 | Credit(s): Wall Street Journal

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You read that right. This Monday, Toys R Us is expected to appear at a bankruptcy hearing and shutting down all its stores and liquidating its entire US operations is one of the options they are considering. There are other options, of course, but this is the option certain lenders are pushing for, after a weak holiday performance. They had already planned to close 20% of their US stores (184 to be precise).

This comes to us from the Wall Street Journal which refers to unspecified people in the know.

Just to be very clear, this does not mean that all stores are closing Monday, it just means that the decision to close all stores in the US could be made official Monday. Liquidation would happen soon after. Also, this is just for US operations.

Here are the key parts from the Wall Street Journal Article:

- Troubled toy chain Toys R Us Inc. is preparing to liquidate all of its U.S. stores and abandon efforts to restructure through the bankruptcy process, people familiar with the matter said, after a weak holiday season torpedoed plans to reorganize.

- An announcement could come as soon as Monday when the parties are expected to appear at a bankruptcy hearing in Richmond, VA., the people said. How much Toys R Us decides to liquidate will depend on the size of the liquidator bids it receives, the people said.

- The plan to shut down the stores and liquidate the U.S. operations is one of several scenarios in play, one of the people said, and while some lenders are pushing that route, others want to find other options for Toys R Us to continue operations.

Transformers: Forged to Fight Wins Best Mobile Game at Global Mobile Awards 2018

Transformers News: Transformers: Forged to Fight Wins Best Mobile Game at Global Mobile Awards 2018
Date: Tuesday, March 6th 2018 6:33pm CST
Categories: Event News, Game News, Press Releases, Company News, Digital Media News
Posted by: Tyrannacon | Credit(s): MobileWorldCongress.com

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Views: 18,163

Kabam's Transformers: Forged to Fight has won the Best Mobile Game at the Global Mobile Awards 2018 on March 6th, 2018 in Barcelona, Spain. These are the details below:

Transformers News: Transformers: Forged to Fight Wins Best Mobile Game at Global Mobile Awards 2018


At this year’s Global Mobile Awards (GLOMO Awards) in Barcelona, Spain during Mobile World Congress 2018, representatives from the GSMA awarded Kabam, Inc. – creators of massively multi-player mobile games for a global audience – ‘Best Mobile Game’ accolade for the company’s popular mobile fighting game Transformers: Forged to Fight. Since the game’s launch in April 2017, Transformers: Forged to Fight has been incredibly successful as it was previously awarded Google Play's Most Competitive Game and has seen more than 19 million downloads to date.

"Our goal with Transformers: Forged to Fight was to deliver an action-packed, immersive and engaging experience that any-and-all Transformers fans can enjoy, so it is extremely satisfying and humbling to see the game do especially well in its first year,” said Mike McCartney, Executive Producer for Transformers: Forged to Fight. “We are extremely grateful to be able to participate in the Global Mobile Awards and we are looking forward to what’s coming next for Year Two of Transformers: Forged to Fight.”

Transformers: Forged to Fight features amazing visuals, intense one-on-one battles, meaningful robot to vehicle converting action, and deep RPG elements. Fans can look forward to authentic TRANSFORMERS action set in a stunning 3D environment, challenging players to assemble the ultimate team of Autobots and Decepticons - including fan-favorite bots from previous and current animated Transformers series, Paramount's blockbuster films, TRANSFORMERS comic books and Hasbro's line of iconic action figures.

Transformers: Forged to Fight was developed by Kabam, the studio who created Fast & Furious: Legacy and Marvel Contest of Champions, a top 10 grossing game on the App Store. The game is now available worldwide in more than 155 countries on the App Store for iPhone, iPad and iPod touch, and Google Play for Android devices. Visit ForgedtoFight.com for more information.

Transformers Original Television Series Score On Sale Friday March, 9th.

Transformers News: Transformers Original Television Series Score On Sale Friday March, 9th.
Date: Tuesday, March 6th 2018 6:14pm CST
Categories: Cartoon News, Press Releases, Company News, Collectables
Posted by: Tyrannacon | Credit(s): EnjoyTheRideRecords.com

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The long sought after release of the music for the original Generation One series is upon us and in limited quantities per "Enjoy the Ride Records" and it's only going to be released in LP format. That's right, you'll need a vinyl record player or turnstyle table to play it. Goin' old school as it were. Here are some details about it:

Transformers News: Transformers Original Television Series Score On Sale Friday March, 9th.


Hasbro, Enjoy the Ride Records and Sony Music/Legacy Recordings Present the First Official Release of the Transformers Original Television Series Score on Collector’s Edition Vinyl on March 9 With 40 Tracks, Soundtrack is Available for the First Time in Any Format and

Presented In Three Colored Vinyl SKUs

BURBANK, Calif. – March 6, 2018 – Hasbro, Inc. (NASDAQ: HAS), Enjoy The Ride Records and Sony Music/Legacy Recordings announced today the release of Hasbro Studios Presents '80s TV Classics: Music from The Transformers on vinyl in three different color variants, available at select retailers Friday, March 9. This is the first official release of the score in any format and includes the iconic opening theme song and more than 45 minutes of unreleased music by composers Robert J. Walsh, Johnny Douglas, Anne Bryant and Ford Kinder. The album features music from seasons 1-3 of “The Transformers” animated series which debuted in 1984.

“We’re very excited to share with fans of all ages the classic original score from the animated show that helped launch the Transformers universe,” said Stephen Davis, Chief Content Officer for Hasbro. “Legacy has created an incredible, unique product that fans will love and that is truly More than Meets the Eye!”

Hasbro Studios Presents '80s TV Classics: Music from The Transformers features a mix of orchestral and ‘80s inspired synth tracks which have been remastered from the original tapes by Walsh himself. The unique collector’s edition albums feature original artwork including Japanese Catalog artwork from 1985 and will be available in three different retail exclusive vinyl colorways (each sold separately) corresponding with fan favorite characters Optimus Prime (Blue and Red Stripe With Gray Splatter), Bumblebee (Black and Yellow Stripe) and Megatron (Gray with Purple Splatter).

The Hasbro Studios Presents '80s TV Classics: Music from The Transformers will be available for $18.99, with the Optimus Prime and Megatron variants available through EnjoyTheRideRecords.com and the Bumblebee variant available exclusively through ThinkGeek.com.

· EnjoyTheRideRecords.com
· ThinkGeek.com:


Transformers News: Transformers Original Television Series Score On Sale Friday March, 9th.


We also have a Track Listing for those curious as well:

Side A

1. Opening Theme Song
2. Life
3. Cybertron Sorrow
4. The Bridge to Iacon
5. Unwelcoming Committee
6. Prepare
7. Attack! Attack!
8. Decepticon Drama
9. Explore! Repair!
10. Facing Disaster
11. Ominous Discovery
12. Elements of Danger
13. Something’s Wrong
14. Overcoming the Unstoppable
15. No More Worries
16. Unyielding
17. Heavy Mettle
18. Man and Machine
19. Matters and Antimatters
20. Battle Fearlessly
21. Ancient Legends
22. The March of War

Side B

1. Roll For Home
2. The Glimmer of Hop
3. Earth to Cybertron
4. Into the Jaws of Death
5. Doomed Together
6. The Wrong Readings Mean the Right Doom
7. Transformers Medley
8. Mad Planet
9. Conflict on Cassette
10. Pastoral Tranquility
11. From the Secret Files of Teletraan II
12. Separation Anxiety
13. Synthesized Magic
14. Sinister
15. Uneasy Advances
16. Epic Struggles
17. Mysterious Airs
18. Waking Nightmare


We'll post more as it becomes available, I personally will be holding out hope for a wider release and digitally or even on CD as time goes on. Either way, owning the Transformers music in LP format is a great way to own this relic of the past!

Toys Я Us U.K. Going Into Administration

Transformers News: Toys Я Us U.K. Going Into Administration
Date: Tuesday, February 27th 2018 3:22pm CST
Categories: Company News, Store News
Posted by: Bounti76 | Credit(s): ZeroWolf

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Fellow Seibertronian ZeroWolf has pointed us to an article from the U.K.'s Guardian newspaper, which states that Toys Я Us U.K. branch is expected to go into administration (a type of pre-bankruptcy accounting of a business) within the next 24 hours.

Retail experts said Toys R Us’s problems were down to a lack of investment in its stores and website. “It would be easy to blame Amazon, but the reality is that Toys R Us has been a victim of complacency,” said Natalie Berg, an analyst at NBK Retail . “As a specialist retailer, the Toys R Us experience should have been a magical one with in-store events, dedicated play areas and product demonstrations. The reality was a soulless shed.


While not totally unexpected, and affecting mainly the British branch of the toy retailer, it could give us a preview of what might happen to the struggling company worldwide. Check out the whole article by clicking here, and let us know what you think about the latest development in the ongoing saga of Toys Я Us below.

Hasbro's New Trademark: ALLSPARK DISTRIBUTION

Transformers News: Hasbro's New Trademark: ALLSPARK DISTRIBUTION
Date: Tuesday, February 27th 2018 7:43am CST
Categories: Cartoon News, Movie Related News, Game News, Press Releases, Company News, Digital Media News
Posted by: Tyrannacon | Credit(s): Trademarkia

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The Trademarkia website fired to life with the indication that Hasbro has registered the new trademark of ALLSPARK DISTRIBUTION. What is it for? Entertainment services is what the category is being registered under. That category covers things like TV series, movies, webisodes for online series, and other multimedia ventures. This is the actual trademark below:

Trademark Application 87796827 ALLSPARK DISTRIBUTION
Trademark Details
Trademark Source: USPTO
Mark (in words): ALLSPARK DISTRIBUTION
Serial Number: 87796827
Filing Date: Wednesday, 14th of February 2018
Status: New application will be assigned to an examining attorney approximately 3 months after filing date.
Status Date: Saturday, 17th of February 2018
Registration Number:
Registration Date: Wednesday, 30th of November -0001
Prior Reg Numbers:
Current Location: NEW APPLICATION PROCESSING
Date In Location: Saturday, 17th of February 2018
Class Status: ACTIVE
Category: Entertainment services, namely, production and distribution of movies, television series, online series, webisodes and digital content; entertainment media production services for motion pictures, television and internet
Actual Mark
Status History
Thursday, 22nd of February 2018 - NEW APPLICATION OFFICE SUPPLIED DATA ENTERED IN TRAM
Saturday, 17th of February 2018 - NEW APPLICATION ENTERED IN TRAM

Transformers News: Hasbro's New Trademark: ALLSPARK DISTRIBUTION

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