Toys R Us United Kingdom has announced that it will be closing down all of its 100 stores which will affect the loss of 3000 jobs. It has already shut down 25 of the stores with the remaining stores to be closed within six weeks. The chain was unable to find a buyer for the UK operations. This means that Toys R Us will no longer exist in the United Kingdom. ) :
Toys R Us has been struggling for quite some time and had file for bankruptcy protection. Toys R Us USA operations previously had plans to close 180 stores. In February, it had plans to close another 200 stores. (via Patch and Wall Street Journal)
Will Toys N Bricks shut down soon too? The transmission is weak. )':
There were some rumors circulating yesterday regarding Toys R Us USA having plans to completely shut down. The UK operations was shutting down for sure. However, it was not 100% confirmed yet so we did not post about it. It looks like now that it is true as confirmed by USAToday. Toys R Us USA has filed for liquidation after failing to find a deal to solve their debt that is in the billions. They have their biggest operations in the USA with UK probably in 2nd place. Yikes!
Unfortunately, that also means about 30 000 jobs would be lost. All 735 Toys R Us USA stores will start their closure. Last year's Christmas sale was a bust for Toys R Us. Q4 is one of their most crucial season during the holidays as that's where they make most of the profits. Many toy manufacturers rely on Toys R Us to showcase toys throughout the year as many other retailers only stock them up during the Christmas season.
This is a big blow to the toy industry and also LEGO fans. Toys R Us is one of the major destinations for LEGO purchases and its really sad that they are going away. It also looks like fewer and fewer kids are playing with toys these days as they all play on their iPhones. They also have one of the biggest selection of toys aside from LEGO Brand Retail stores.
We still remember the commercial and song where they have "I don't want to grow up, I'm at Toys R Us". This is really sad.
We're literally crying as we start listening to this song. We don't wanna see the sun set for Geoffrey the Giraffe. )':
For any stores to survive, you need good customer service. Plus TRU was known to add their 20% tax to lego products. They are like the blockbusters of toys. They didn't keep up with e-commerce and they were a pain to price match.
I'm going to miss them as I grew up going to TRU as a kid in the 80s.
For Canadians, Toys R Us stores will continue to remain open for business. They have 82 stores across Canada from Nanaimo, British Columbia all the way to Fredericton, New Brunswick. The Toys R Us Canadian business portfolio is profitable and can continue to operate without disruption. The parent company of Toys R Us in America is currently looking for someone to acquire the Canadian Toys R Us Canada portfolio. The Toys R Us operations in America will be closing down. All 740 stores will be liquidated. (via TheStar)
While the parent company Toys R Us America is going through liquidation, Toys R Us Canada has received multiple non-binding bids on the Canadian operations and its 82 stores as reported on Financial Post. This is definitely good news. One of the bidders is MGA Entertainment (producer of Bratz dolls and Little Tikes). Toys R Us Canada has strong leadership and enough cash to continue paying its vendors.
Show below: LEGO City 7848 ToysRUs Delivery Truck & Store (2010 Exclusive Limited Edition)
Toys R Us is hoping that they are able to secure a buyer that will take up not only the Toys R Us Canada network of 82 stores, but also the top 200 performing stores in America. The whole process is being speeded up where the auction will be held on March 29 and the closing will occur at the latest by April 16. If all goes well, we may still have Toys R Us stores on both sides of the border.
There's more sad news for Toys R Us. Charles Lazarus, the founder of Toys R Us Inc. has passed away at the age of 94 in Manhattan, New York City today. This is a week after Toys R Us announced that it be shutting down its stores in America. Charles Lazarus stepped down as CEO in 1994.
The first Toys R Us store was opened in 1957 and then expanded quite rapidly using its toy supermarket formula by driving out smaller toy retailer competitors. It became the largest toy store chain in the world with offerings of toys year round and not just during Christmas time. However, they are no longer able to compete in the digital age with online shopping and mobile games. In addition, it had a high debt load which made it difficult for them to continue to improve and innovate its existing stores and its online website. Thanks to Fortune for the news.
The ToysRUs USA online website is no longer taking any purchase orders. You can still view many products on their site though. Toys R Us brick and mortar stores are still open for business and are holding liquidation sales. Earlier last month on March 15, Toys R Us announced they are going shutting down all of its U.S. and Puerto Rico operations.
If you have Toys R Us gift cards, use them before April 21, 2018 as they will no longer be honored after this date. All U.S store locations are now having liquidation savings up to 30% off. Though, LEGO appears to be discounted at a much smaller rate. All sales are final. They are also currently hiring a lot of people to be staffed at their stores. These are temporary job openings. Additional Resource Info Links:Toys R Us Closing Sale | Toys R Us Liquidation FAQ
Toys R Us United Kingdom
The Toys R Us Great Britain and Northern Ireland (UK) online website is also no longer taking any transactional purchases. Store savings are now up to 50% off (construction toys are currently 15% off). Gift cards are no longer honored. All sales are final.