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