No, not Toys R Us!!!
- Have you all heard the news?!?! The iconic toy store, Toys R Us, is in the process of liquidating their assets and possibly closing up to 800 stores! After more than half a century of business, it looks like they may be closing their doors for good. This makes me so sad… Our kids love going to Toys R Us and making their Christmas lists or even just shopping with birthday money. While no official plan has been set yet, CNBC reported these updates Tuesday 3/14, 2018. This is going to be a huge blow to the toy industry, and according to CNBC “Toys R Us accounted for 15%-20% of toy sales in the U.S. last year.” One thing we know for sure is that we are going to see some great deals at Toys R Us coming up soon…
Is this the end of toy stores???
- Without Toys R Us, toymakers are going to have to rely more heavily on Amazon and other online retailers. CNBC estimates that “as much as 15 percent of all Toys R Us’ toys sales could be lost for good.” Other toymakers such as Mattel and Hasbro have also struggled to stay afloat over the past couple years. Toys R Us entered bankruptcy back in September of 2017 and apparently never recovered enough to stay open. CNBC reports that, “…Toys R Us found itself hamstrung by payments, unable to make the investments it needed to in order to keep up.” Plus, with the rise of Amazon retail stores have had to drastically change their way of business. Stores like Walmart and Target severely cut their prices to compete, but Toys R Us just couldn’t keep up with all the debt that had amassed.
What do you think about all this???
- Do you think we will see toy stores start to shut down and physical stores begin to dwindle in the upcoming years? What are your thoughts on the recent news about Toys R Us? We’d love to hear from you all and know what you think about these topics!