Toys R us reportedly planning to close 200 more stores

Transformers News: Toys R us reportedly planning to close 200 more stores

Thursday, February 22nd, 2018 2:13PM CST

Category: Toy News
Posted by: WreckerJack   Views: 9,138

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We have more news about ToysRus's financial issues. This comes to us from fellow Seibertronian, mordhelm. USA Today reports that ToysRus may be planning to shut down 200 more stores. Considering roughly 170 US stores are holding going out of business sales, your store may be added to the list to be closed if they were not already on it. You can check that list here if you have not already seen it. In the meantime be sure to make plans for a last visit to ToysRus just in case. The article at least gives us a sliver of hope considering bankrupcy experts are predicting that the company will shrink down to fewer than 200 stores to remain viable.

The 200 store closings would be in addition to the approximately 170 U.S. stores where Toys R Us currently is holding going out of business sales. If the retailer goes ahead with those closings, it would be reducing its store fleet by close to 50%, from approximately 880 last year to roughly 400 stores.
Credit(s): USA Today
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Re: Toys R us reportedly planning to close 200 more stores (1941531)
Posted by CJPrime931 on February 22nd, 2018 @ 2:18pm CST
Oh no... :(
Re: Toys R us reportedly planning to close 200 more stores (1941539)
Posted by LevelRage on February 22nd, 2018 @ 2:33pm CST
Still glad I don't work at toys r us anymore. Sure I got discounts but this whole going out of business deal would've probably sent some panic to my managers, as well as leading up to having to find a new job.
Re: Toys R us reportedly planning to close 200 more stores (1941541)
Posted by WreckerJack on February 22nd, 2018 @ 2:35pm CST
I thought of working at TRU but my capacity for screaming children is 5 minutes or less so I know I am not a good fit.
Re: Toys R us reportedly planning to close 200 more stores (1941551)
Posted by Rodimus Knight on February 22nd, 2018 @ 2:51pm CST
If they do close more, I hope they get the list out quickly.
I'm guessing we wont be seeing to many TRU exclusive transformers at this point though.
Re: Toys R us reportedly planning to close 200 more stores (1941553)
Posted by william-james88 on February 22nd, 2018 @ 3:07pm CST
Rodimus Knight wrote:If they do close more, I hope they get the list out quickly.
I'm guessing we wont be seeing to many TRU exclusive transformers at this point though.

Only 1 in 2018.
Re: Toys R us reportedly planning to close 200 more stores (1941570)
Posted by JelZe GoldRabbit on February 22nd, 2018 @ 3:59pm CST
Right, time to recheck my local one... Last time they had a sign saying they'll continue to be open and be of service, apparently aware of the potential panic the overall news is bringing.
Re: Toys R us reportedly planning to close 200 more stores (1941584)
Posted by Flashwave on February 22nd, 2018 @ 4:19pm CST
This is in part educated speculation, but the original 180 store list shows the TRU in Greenwood, IN as closing. I was just there two weeks ago and the TOYsRUS I does NOT have the Store Closing Signs up, but the BABIESrus next to them DOES. So with that in hand I firmly believe that at the very least the original list is populated with both TRU and BRU stores. And this one may be too.
Re: Toys R us reportedly planning to close 200 more stores (1944837)
Posted by fenrir72 on March 8th, 2018 @ 6:58pm CST
"
Toys “R” Us Inc. is making preparations for a liquidation of its bankrupt U.S. operations after so far failing to find a buyer or reach a debt restructuring deal with lenders, according to people familiar with the matter."


The news sent shares of the biggest toymakers tumbling in late trading. Mattel Inc. fell as much as 6.1 percent, while Hasbro Inc. declined 3 percent.

https://www.bloomberg.com/news/articles ... operations
Re: Toys R us reportedly planning to close 200 more stores (1944854)
Posted by shajaki on March 8th, 2018 @ 9:29pm CST
Will, is the article accurate that TRU Canada entered bankruptcy last September? I don't recall hearing that!
Re: Toys R us reportedly planning to close 200 more stores (1944855)
Posted by william-james88 on March 8th, 2018 @ 9:33pm CST
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.
Re: Toys R us reportedly planning to close 200 more stores (1944856)
Posted by william-james88 on March 8th, 2018 @ 9:46pm CST
shajaki wrote:Will, is the article accurate that TRU Canada entered bankruptcy last September? I don't recall hearing that!

Yes, it did. But it did so seperately. It was indeed protection from the US going bankrupt since TRU Canada has been lending its surplus money to the US branches.

The US was sinking Canada down with them (which they can, they own it) so when they declared bankruptcy, Canada had to decalre bankruptcy too.

However, I do not think that the US liquidating means canada will have to be liquidated as well. Regardless, TRU Canada is ridiculously profitable due to the meager competition so what i beleive is someone would simply buy the Canadian operations if things got really dire.
Re: Toys R us reportedly planning to close 200 more stores (1944857)
Posted by BombshellDaBug on March 8th, 2018 @ 9:50pm CST
Holy S*** this is troubling as all hell. Granted the decision isn't final yet, but it's still really concerning for TRU. One concern of mine is that TRU might be the only option for TF collecting for certain people. I also can't help but wonder what's going to happen to certain exclusives i.e. Studio Series Thundercracker. Are we going to get an alternative outlet for purchasing it, or are we just not going to see it as a result of this?
Re: Toys R us reportedly planning to close 200 more stores (1944858)
Posted by william-james88 on March 8th, 2018 @ 9:52pm CST
BombshellDaBug wrote:Holy S*** this is troubling as all hell. Granted the decision isn't final yet, but it's still really concerning for TRU. One concern of mine is that TRU might be the only option for TF collecting for certain people. I also can't help but wonder what's going to happen to certain exclusives i.e. Studio Series Thundercracker. Are we going to get an alternative outlet for purchasing it, or are we just not going to see it as a result of this?

Thundercacker is already out at TRU, and was the last TRU exclusive.
Re: Toys R us reportedly planning to close 200 more stores (1944865)
Posted by TK415 on March 8th, 2018 @ 10:26pm CST
how does liquidating stores and inventory help lenders? Aren't the locations leased? Are the stores locations owned? Selling real estate would bring in money. Thanks for any answers.
Re: Toys R us reportedly planning to close 200 more stores (1944868)
Posted by Logsters65 on March 8th, 2018 @ 10:28pm CST
If anyone has any news or theories on what might happen to the Canadian stores please let me know, I really hope they don't close down because it's my main supplier for transformers
Re: Toys R us reportedly planning to close 200 more stores (1944873)
Posted by Wireless_Phantom on March 8th, 2018 @ 10:44pm CST
SHIT
Re: Toys R us reportedly planning to close 200 more stores (1944878)
Posted by WreckerJack on March 8th, 2018 @ 11:30pm CST
TK415 wrote:how does liquidating stores and inventory help lenders?

IIRC its a way to sell off unused products to get 'liquid funds'. Think of stores like ROSS, TJMaxx and Nordstrom Rack that sell surplus goods. My theory is some of the overstock from TRU may wind up those places. I could be wrong.
Re: Toys R us reportedly planning to close 200 more stores (1944882)
Posted by Me Grimlock King on March 9th, 2018 @ 12:04am CST
Well that's just Prime :-(
Re: Toys R us reportedly planning to close 200 more stores (1944890)
Posted by JelZe GoldRabbit on March 9th, 2018 @ 1:06am CST
WreckerJack wrote:
TK415 wrote:how does liquidating stores and inventory help lenders?

IIRC its a way to sell off unused products to get 'liquid funds'. Think of stores like ROSS, TJMaxx and Nordstrom Rack that sell surplus goods. My theory is some of the overstock from TRU may wind up those places. I could be wrong.


Basically anyone who wants to buy those goods is fair game. A step in the bankruptcy trajectory is to asses value of possessions, with movable stock as a primary focus. Once that is sold off either via sales in store or overstock to other companies, the real estate is next, which may take a while longer. It all depends on who shows interest in picking up a particular lot, it's a case by case basis, like one company buys up the lots in a particular city, another buys all the lots on East coast, and so on. I'm seeing it happen a lot back home in the Netherlands, with department stores and supermarkets biting the dust left and right.

Thankfully, the move to close up shop was an anticipated possibility so there are no exclusives in the pipeline: the future Movie MP figures and other normally TRU exclusives have been relegated to other stores. Anybody remember KB Toys with their exclusives close to bankruptcy in 2005? Nightmarish.
Re: Toys R us reportedly planning to close 200 more stores (1944912)
Posted by leokearon on March 9th, 2018 @ 4:36am CST
Kind of stupid of Hasbro to give a store in financial trouble and now could be closing a lot of exclusives. Maybe this might be a lesson and finally stop store exclusives

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