Toys R Us is back?

Toys R Us is back?

Nina, News

Did you know that Toys “R” Us is back? They had a traumatic closing in September 2018 after 70 years of operations due to a bankruptcy. They were outnumbered by many online stores. Toys “R” Us owned 885 stores before they closed. To many kids they didn’t know what was happening or why, but they were very sad.

Toys “R” Us filed for Chapter 11 bankruptcy, they had to deal with $5 billion in long-term debt, borrow $2 billion so it could pay suppliers for the upcoming holiday season. They were being outnumbered by all the holiday online stores filling up with cheaper stock. These stores included eBay, Amazon, and Etsy. There was also a few well-known stores taking over the toy business including Target and Walmart. Yes, they do have many other items other than toys, and it’s not a toy store, but there toys are cheaper than Toys “R” Us’s toys.

You may think, “Oh, it’s just a bankruptcy,” but actually there were other problems, too. The Toys “R” Us stores stores felt like they were falling apart. They didn’t have the good qualities of the online stores, like they used to. The store turned into a warehouse of toys, not happiness, and it didn’t give the Toys “R” Us employees, managers, and customers the vision they used to have of this store, a wonderland of toys and happy faces. The company used to have the idea and mindset of a nice surrounding and eventually it went away.

The “Toys R Us” debt was too much to bear. They were settled with a heavy debt in 2005. One of the people who worked in the company said “it all just hit with horrible timing”. While this was all going on “Toys R Us” competitors turned up the heat ready to get lots of money coming in for the upcoming holidays. They failed to survive the bankruptcy and left many young kids sad and disappointed about their favorite store closing.