Toys R Us and Babies R Us have 1,695 stores in 38 countries Worldwide with 113 of those stores being in California, but not after this Christmas season as they are going bankrupt, filing chapter 11 paperwork on Monday.
65,000 are currently employed by Toys R Us and Babies R Us and the company says that they still plan to hire more seasonal employees just like they have in the past and will be open for business this Christmas season.
The downfall seems to be a combination of discount stores like Walmart and online places like Amazon.com, the biggest setback though may very well have been when a trio of investors bought the company and took it private.
Among the $5 Billion in debt that the company is, the 3 major unsecured creditors are Mattel at $135.6 Million owed, Hasbro at $59.1 Million and Lego at $31.6 Million.
“It’s just so much easier to go on Amazon and find what you want and then it's at your door in a day or two, the mother of three said. “Then there's the added shop-online benefit of not having your children begging for something on every aisle.” ~ Anita Gould, a shopper who read about the bankruptcy and stopped by the Culver City store to look for bargains but found that nothing was marked down.
Click here for a 37 second video by LA Times talking about the Toys R Us Bankruptcy!
The above information is credited to the story read on the Los Angeles Times website, read the entire story here.
Toys R Us info:
Toys R Us email Toys R Us = Contact Toys R Us
Toys R Us Locations = Find a Store near You
Toys R Us Online = Toys R Us Website
Toys R Us Coupon Code = Toys R Us Coupon Codes
Toys R Us Promo Code = Promo Code
Toys R Us in Canada = Website with Info
Toys R Us Affiliate Program = Sign up here
Toys R Us Big Toy Book = Get your Toys R Us Christmas 2017 Catalog here
Toys R Us Blog = Read it here
Toys R Us Corporate Phone Number = 1-800 Toys R Us
Are you looking forward to the Toys R Us Black Friday Ad?
Do You think that Toys R Us will have lots of Black Friday Deals this year?
Will You be disappointed if Toys R Us prices are the same or higher than other places as they normally are?
Kyle Loudon of Wealthy Affiliate wrote a related story and how it affects Affiliate marketing professionals who promoted Toys R Us as Affiliates and now must find other Affiliate programs to share their reviews of toys after this Christmas season.
View it on the Facebook post or on WA by clicking the link below:
Many brick and mortar stores are facing similar situations like Toys R Us and their Bankruptcy, Online sales are up and will keep going up.
Are you ready to start earning an income online and be ahead of the wave?
Become and Affiliate Marketer and get started for free, here is my Profile page at the #1 Affiliate Marketing Business Community with amazing training and support. Get your own profile set up and I'll personally help you 1 on 1 via the internet when you ask for help.
Tony:
A nice article with more information than we get listening to television news especially the total amount of debt and who it was owed to.
In my lifetime, I have seen a lot of businesses come and go and the way merchandise is marketed has changed a lot over the years. My grandparents bought a lot of things from the Sear’s catalog and catalog merchandising has all but disappeared. Now it appears brick and mortar stores will largely disappear. Locally, they are closing our Office Depot store due to slow sales.
I think you make a valid point about the employees losing their jobs and becoming affiliate marketers but leading them to the changed mindset necessary to become an on-line entrepreneur will be a big challenge. The program at Wealthy Affiliate is certainly one of the best ways to accomplish that mindset change.
Thanks for a great article.
Thank you my Friend,
I do agree that Wealthy Affiliate would be a great program for anyone to start and learn at while earning online.
I also agree that the challenge would be for the mindset, I don’t believe that some of them will ever have the mindset and I believe that some already do. Some are somewhere in the middle and they are the ones that have a big decision to make.
I do remember when catalog merchandising was popular and now the online sales have taken the forefront, sadly many small businesses are not able to compete. The small businesses who grab ahold and learn online marketing will in my opinion thrive and do very well.
Thank you for stopping by to comment, come back anytime.
Tony
Hi Tony Lee,
Thanks for sharing the article regarding the Toys R Us upcoming bankruptcy. I had heard about this just a day or two ago, another sad story about a brick and mortar store getting ready to bite the dust.
My wife worked for Borders for many years and of course they liquidated in 2011. Part of that was due to a too slow embracement of the digital age themselves and of course the rise of Amazon.
It is a changing world we live in and the really unfortunate side effect of this is all the folks that lose their jobs.
Appreciate your insight,
Mat A.
Hi Mat A.
Yes it is a sad story for sure my Friend and many will have to look for work to replace the job that they thought was secure.
I was so surprised to hear of the news as I thought that Toys R Us was one of the Big Dogs who would surely remain even when the competition got tough.
It is my Prayer that they do find new jobs and I know that many of them could earn an income online as Affiliate Marketing Professionals when they put forth the effort.
Let’s all keep on sharing and caring and do what we can to help one another.
Thank you for stopping by and commenting Mat A.
Tony
OMG! My close friend father was the head maintenance adjuster for the ferries wheel for ToysRus in New York. Later on….. the main property inspector discussed closing the leasing agreement. Now a days many people buy online products especially on Amazon. We live in a world today of rapid growth of online purchasing! This shows how the years change and anything can happen.
Very true Jonathan,
Online is going to become the norm very soon and those who adjust to the change will thrive. those who don’t will soon be going out of business as well, it’s a sign of the future no matter if we like it or not.
Thank you for stopping by to comment Jonathan,
Tony