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Toys R US shutting down


Art_de_Cat

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39 minutes ago, Fuzzer1 said:

http://money.cnn.com/2018/03/17/news/companies/toys-r-us-closing-questions-answered/index.html

 

This CNN Money article answers some questions about the upcoming closing and especially why the Going Out of Business sales haven’t begun quite yet.

 

Toys "R" Us is "holding back" on liquidating about 200 of its best performing US stores in the hopes that it will find a buyer, CEO Dave Brandon told employees. The company has 735 Toys "R" Us and Babies "R" Us stores nationwide.

 

This was what I was going to ask about. Looks like we could know Tuesday if this is gonna go down or not? If this is the case, this will make things  a ton easier for me to handle emotionally. I went into two TRU today, one with no discounts yet and one that has been having discounts for the past month. Seeing these stores inventory get torn apart and isles messed up is really making me sad. I'll gladly take 200, even 50 over nothing in the US.

 

Also for whoever purchases the Canada stores with the possibility of the 200 here in the USA, will the debt that was left behind by Capital Bain be their responsibility now? Just curious how that works. Like can the new buyer of those TRU start over or would they be continuing climbing up that impossible hole? 

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48 minutes ago, Eliwoodman12 said:

https://dccollectors.com/2018/03/18/as-toys-r-us-fails-kb-toys-swoops-in-to-take-its-place/

 

Not sure how serious to take this but KB toys to come back? Doesn't seem realistic at all but idk. It would make sense for a new toy company to form, something smaller a long the lines of what KB used to be. 

Well shit. Color me surprised. I don't consider it to be realistic either. But I'd cheer it. As long as Bain Capital stays the hell away from it.

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40 minutes ago, Doc Brown said:

Well shit. Color me surprised. I don't consider it to be realistic either. But I'd cheer it. As long as Bain Capital stays the hell away from it.

I think this company just owns the name. Which is ok by me. But yeah, still don't get how Bain goes unpunished time after time again.

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19 minutes ago, Eliwoodman12 said:

I think this company just owns the name. Which is ok by me. But yeah, still don't get how Bain goes unpunished time after time again.

Ah I see, well it's still something. Never thought I'd ever see the name again. I don't either. They seem to drive companies further into debt and then kill them.

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I seriously don't understand nostalgia for marketing and brand names. This store wasn't any different to me than walking into any other one when I was a kid. Unless they had, like, cool game preview setups, I couldn't have cared less back then which store we went into so long as I got the game or whatever it was that I wanted. Actually, the only one I held in some esteem was a used bookstore when I was 12-13 that still carried NES/SNES/N64 games after they disappeared from everywhere else.
 

On 3/15/2018 at 2:19 AM, Eliwoodman12 said:

I really wonder if Gamestop will be next


God I can only dream. That place has been a scamfest since its inception. One time I bought a fucking disc with a triangle-shaped chunk missing out of one side.

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12 hours ago, Eliwoodman12 said:

 

Toys "R" Us is "holding back" on liquidating about 200 of its best performing US stores in the hopes that it will find a buyer, CEO Dave Brandon told employees. The company has 735 Toys "R" Us and Babies "R" Us stores nationwide.

 

This was what I was going to ask about. Looks like we could know Tuesday if this is gonna go down or not? If this is the case, this will make things  a ton easier for me to handle emotionally. I went into two TRU today, one with no discounts yet and one that has been having discounts for the past month. Seeing these stores inventory get torn apart and isles messed up is really making me sad. I'll gladly take 200, even 50 over nothing in the US.

 

Also for whoever purchases the Canada stores with the possibility of the 200 here in the USA, will the debt that was left behind by Capital Bain be their responsibility now? Just curious how that works. Like can the new buyer of those TRU start over or would they be continuing climbing up that impossible hole? 

 

I'd be surprised if something goes through since this was part of the plan prior to a hearing that took place last Thursday.  It's part of the reason why the rumors had been circling most of that week but officially nothing came down the pipeline until Thursday evening. Would be nice though if it did happen to keep some element of the business around. 

 

As for the second part, I honestly don't know. When we were talking about the situation at work when the whole 200 stores plan was circulating as a possible back up it was mentioned that a buyer would have to take on all the assets of the remaining stores as well as the debt.  I'm assuming they meant the remaining debt since the consolidation and liquidation of all the other stores that don't make the cut (if this plan goes through) would be generating the capital to begin paying dues to their creditors.

Edited by Kezay
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6 hours ago, Pichi said:

I seriously don't understand nostalgia for marketing and brand names. This store wasn't any different to me than walking into any other one when I was a kid. Unless they had, like, cool game preview setups, I couldn't have cared less back then which store we went into so long as I got the game or whatever it was that I wanted. Actually, the only one I held in some esteem was a used bookstore when I was 12-13 that still carried NES/SNES/N64 games after they disappeared from everywhere else.
 


God I can only dream. That place has been a scamfest since its inception. One time I bought a fucking disc with a triangle-shaped chunk missing out of one side.

 

To each his own. I actually had personal memories there with my family and my brother going to Pokemon and Yugioh events. Recently it was amiibo and Star Wars nights that holds sentimental value to us. As far as Gamestop goes, I really don't wish the closing upon anyone. Yeah they are ruthless when it comes to trade in value, but at the same time, so many people would be losing their jobs. While the name itself may not mean a lot, those people affected isn't a good thing.

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4 hours ago, Kezay said:

 

I'd be surprised if something goes through since this was part of the plan prior to a hearing that took place last Thursday.  It's part of the reason why the rumors had been circling most of that week but officially nothing came down the pipeline until Thursday evening. Would be nice though if it did happen to keep some element of the business around. 

 

As for the second part, I honestly don't know. When we were talking about the situation at work when the whole 200 stores plan was circulating as a possible back up it was mentioned that a buyer would have to take on all the assets of the remaining stores as well as the debt.  I'm assuming they meant the remaining debt since the consolidation and liquidation of all the other stores that don't make the cut (if this plan goes through) would be generating the capital to begin paying dues to their creditors.

We will see what happens I guess. You work there?

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Regarding nostalgia/TRU: The thing is, as a kid, TRU was different than other stores. Sure, other places had Lego aisles, but my TRU's aisle was like a mini Lego store in a store. Other places had maybe the most popular sets if whatever last three or four themes Lego released--even if it was new I might not find it.

 

When my interests moved away from Legos and to video games, my nostalgia for TRU went with it. For video games, different stores feel interchangeable and TRU never stood out. If a store carries games and it's new, any store will have it; if it's an old game it'll be a crapshoot anyway so no store, except those that carry used games, will be reliable. What I'm getting is if you're main hobby growing up was video games, I can understand an indifference towards TRU's closing; but different hobbies would lend themselves differently. 

Edited by KefkaFFVI
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3 minutes ago, KefkaFFVI said:

Regarding nostalgia/TRU: The thing is, as a kid, TRU was different than other stores. Sure, other places had Lego aisles, but my TRU's aisle was like a mini Lego store in a store. Other places had maybe the most popular sets if whatever last three or four themes Lego released--even if it was new I might not find it.

 

When my interests moved away from Legos and to video games, my nolstagia for TRU went with it. For video games, different stores feel interchangeable and TRU never stood out. If they carry games and it's new, they have it; if it's an old game it'll be a crapshoot anyway so no store, except those that carry used games, will be reliable.

Yep. And people have different memories of what made TRU special for them. For me it was just walking into the store. And the events I went to and the decent customer service.

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5 hours ago, Kezay said:

Yep, both TheKrazyOne and I do.

 

My thoughts are with you both. Wish this wasn't happening to you guys. 

 

 

As far as the video game aspect of TRU, true maybe there were better memories with video games in the past. As I got older I did tend to go to other places that gave the better preorder bonuses such as Gamestop and discounts such as Bestbuy, but there were still fairly recent ones with the amiibo and the classic series systems that I hold dearly. But like you said, there are different things and not just video games to have nostalgia for. Just walking into the store was just good enough for me. And I get where people who don't have the same nostalgic values as I do. No problem with that. I have a problem with people wanting companies to close putting people like @Kezay and @The Krazy One out of work. The memories and nostalgia will always be there in my mind if not physically. Yeah it will be hard without the stores to cherish memories while making new ones. But I think the most tragic thing to me is 33,000 losing work, and I feel like a good majority liked their jobs a lot.

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1 hour ago, KefkaFFVI said:

When I said video games, I meant specifically the games. TRU was absolute best stocker of Amiibo and I have zero doubt about that. 

 

That said, amiibo are a lot like YGO cards. At the time they were fun to collect but now I look at them with a perpetual question of 'why. just why.'

They did tend to have deals like buy one get one 40 percent off pretty often on their games. Plus they did give a lot of Pokemon goodies with purchases of the games. 

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3 hours ago, Eliwoodman12 said:

and I feel like a good majority liked their jobs a lot.


what crazy alternate world do you live in where the vast majority of people stuck in dead-end, shit-wage retail jobs don't struggle / hate life? psyduck;

can I live there

Edited by Pichi
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Got to go up to my local one today. Took some pictures and got to wander around in the store. Customer service was still good.  :) Going to miss it.

 

Saw a Chrom amiibo there that I was interested in along with an Espeon doll.  Also saw some other Pokemon dolls, sleeping Charmanders, Bulbasaurs, some Eevees, a large Pikachu.

Edited by Doc Brown
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Wait, Krazy and Kezay still works at TRU? I knew for a good while you guys work there but you're still there?!?

 

Get out while you still can. I'd hate for what are precious memories of that place as kids be tainted with what is going with TRU currently.

 

 

 

 

Edited by DLurkster
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