sixoclock Posted March 15, 2018 Share Posted March 15, 2018 Toys R Us is reportedly shutting down its US stores Toys R Us is closing or selling all of its over 800 remaining US stores, according to a report from the Washington Post, signaling an end of an era for the famous toy store. The news was apparently announced to workers today by CEO David Brandon ahead of a bankruptcy court hearing on March 15th. In a later conference call with staff, Brandon apparently pinned the blame on vendors and customers who failed to support Toys R Us during the holiday season — typically the busiest and most lucrative time of year for the company — ominously intoning that they “will all live to regret what’s happening here.” It’s not only US stores that are likely to be affected — stores in France, Spain, Poland and Australia will likely be liquidated, while the company is still looking to sell Toys R Us stores in Canada, Central Europe and Asia (assuming it can find a buyer.) Toys R Us has been circling doom for a while now, with the company filing for bankruptcy last September with more than $5 billion in debt. That was followed by holiday sales this year that Brandon reportedly described as “no short of devastating,” with the company missing its usual $600 million annual earnings by more than half. SOURCE Link to comment Share on other sites More sharing options...
mona Posted March 15, 2018 Share Posted March 15, 2018 Quote Brandon apparently pinned the blame on vendors and customers who failed to support Toys R Us during the holiday season Maybe I'm shameless, but I can't feel any guilt in this matter.... Is it only me ? Link to comment Share on other sites More sharing options...
sixoclock Posted March 15, 2018 Author Share Posted March 15, 2018 4 minutes ago, mona said: Maybe it's strange, but I don't feel any guilt .... Is it only me ? I don't feel any guilt either. Most stores failed either because they failed to innovate or bad customer service. You can't blame the customers if you can't delight the customers to shop your store. Link to comment Share on other sites More sharing options...
dcs18 Posted March 15, 2018 Share Posted March 15, 2018 I have an observation which is a bit different — and, could well be wrong about the whole thing . . . . . Back in the good old days, we would be proud to flaunt watches (Made in Japan) cellphones (Made in Finland) clippers (Made in USA) razors (Made in UK) hand-tools (Made in Germany) and so on and so forth. Today, every damn accessory we use is Made in China — the Chinese have practically over-flooded the world market with consumables (especially toys) which are so cheap that most countries are finding it impossible to manufacture the same at competitive prices. When our government tried to raise a patriotic movement advocating the boycott of Chinese products, hardcore puppies of the Nationalist type realized that they would be reduced to this deplorable condition. Link to comment Share on other sites More sharing options...
jiski Posted March 15, 2018 Share Posted March 15, 2018 Choice: Compete or protect. Link to comment Share on other sites More sharing options...
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