So it looks as if the toys have been thrown out of the prom as the administrator has failed to find a buyer in the UK, meaning the chain is closing it’s doors. Buyers seem to have been found for the stock (so unlikely to be many closing down sales.
3,000 staff are set to lose their jobs.
And this is not just the UK, the parent US company are set to close as well.
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Yeah, not great news but some toy stores are managing to survive on the high street. I did see the following on the BBC: http://www.bbc.co.uk/news/business-43411051
So someone was doing well for themselves regardless of the businesses success!The business was bought in 2005 by a group of investors, including private equity firms Bain Capital and KKR, which loaded it with about $5bn (£3.6bn) in debt.
The company was landed with interest payments that were as much as $400m a year.
Jonj1611 (15-03-2018)
As a kid I remember going to Toys R Us a couple of times, but it was always a long way away. My biggest memory was how eye watering the prices were. Big toys, big prices.
That beeb article also mentions Maplin has been facing problems. I guess when you try and flog an AV cable for £100 people will eventually cotton on and go elsewhere.
I've never been to one. Alas, not meant to be now !
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Before the internet, they were big business. I remember when my brother was young we would travel from Plymouth to Bristol just so he could go to (what was at the time) our nearest store.
eCommerce changed everything though and TRU never did seem to move with the times, which for big businesses is suicide these days.
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It isn't just online shopping that killed Toys R Us - I took my son there several times to buy Lego sets, and found Argos were regularly £10-£15 cheaper on boxes in the £50-£60 range.
Toys'r'Us online strategy was interesting - they partnered with Amazon - http://uk.businessinsider.com/heres-...-demise-2017-9
Online shopping or high prices aren't what killed TRU, which was still basically profitable.
It was this.
Originally Posted by jimbouk
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