Toys R Us to close all remaining US stores*

[esw01407]

I've been to two stores in the last few weeks. Either they are still getting tons of stuff from the warehouses, or things are moving very slowly. Right now there toy selections like like an average Walmart, slightly picked out, but not near empty.

[danfifepsu]

I've been to two stores in the last few weeks. Either they are still getting tons of stuff from the warehouses, or things are moving very slowly. Right now there toy selections like like an average Walmart, slightly picked out, but not near empty.

It makes no sense for other countries to have  a store like this but not in the US yet we have Build a BEAR , Lego store, LEgo land and Disney World.

WHatll happen w Christmas shopping?

[busman_49]

I've been to two stores in the last few weeks. Either they are still getting tons of stuff from the warehouses, or things are moving very slowly. Right now there toy selections like like an average Walmart, slightly picked out, but not near empty.

It makes no sense for other countries to have  a store like this but not in the US yet we have Build a BEAR , Lego store, LEgo land and Disney World.

WHatll happen w Christmas shopping?

Walmart... Target... Amazon...

[danfifepsu]

I've been to two stores in the last few weeks. Either they are still getting tons of stuff from the warehouses, or things are moving very slowly. Right now there toy selections like like an average Walmart, slightly picked out, but not near empty.

It makes no sense for other countries to have  a store like this but not in the US yet we have Build a BEAR , Lego store, LEgo land and Disney World.

WHatll happen w Christmas shopping?

Walmart... Target... Amazon...

There is a need for a physical toy store!! and Toys r us had some stuff I couldnt find else where in the Fan Vault area.

[Retail Fan+ (Justin Hill)]

I've been to two stores in the last few weeks. Either they are still getting tons of stuff from the warehouses, or things are moving very slowly. Right now there toy selections like like an average Walmart, slightly picked out, but not near empty.

It makes no sense for other countries to have  a store like this but not in the US yet we have Build a BEAR , Lego store, LEgo land and Disney World.

WHatll happen w Christmas shopping?

I heard KB Toys will be coming back this holiday season. I also heard Party City will get into the toy business.

http://money.cnn.com/2018/03/20/news/companies/kb-toys-toys-r-us/index.html
http://www.businessinsider.com/kb-toys-plotting-comeback-after-toys-r-us-bankruptcy-2018-3

[Retail Fan+ (Justin Hill)]

The bankruptcy of Toys "R" Us in the United States has led to a domino effect in which the UK and Australian stores went bankrupt soon after, followed by Canada.

[Retail Fan+ (Justin Hill)]

A newly-resurrected KB Toys is rescuing the toy industry late 2018/2019.

The stores will come in two sizes:

Smaller "KB Toys" stores for strip malls and shopping malls, as well as larger Toys "R" Us-sized big box stores with a supermarket layout called "KB Experience". They'll start out as temporary pop-up stores, but if they become successful, they'll become permanent tenants for years to come...

Read more about it here:
http://comicbook.com/2018/05/12/kb-toys-details-comeback-plan/

[shore72]

I've been thinking about Toys R Us as they're closing & I've paid a little attention to some of their locations in my travels. A real issue I see: terrible locations. Some have great highway frontage (which I'm sure they paid dearly for) but their a major pain to get in and out of. (i.e, U-turn across 3 busy lanes of traffic to get in followed by an almost impossible crossing of those same 3 lanes to get back to where you came from.) Another was tucked in the backside of a totally dead mall-you had to walk through a portion of it to get to the store. I think they should have concentrated on either mall locations (and not dead ones) or better strip centers.

[Zayre88]

I'm in Canada and I've heard a commercial from Toys'r'us Canada on the radio: Toys'r'us Canada's president is saying that "Toys'r'us is now a Canadian company that's here to play, here to stay!"

http://www.toysrus.ca/shop/index.jsp?categoryId=4217985

[retailisking]

Turns out that "going concern" bidders never had a chance of competing with the liquidators - the creditors and lenders insisted on TRU going out of business
https://www.retaildive.com/news/toys-r-us-reportedly-spoke-with-sycamore-target-before-liquidating/525213/

[Retail Fan+ (Justin Hill)]

Former Toys ‘R’ Us boss has plan to salvage chain

By Lisa Fickenscher, New York Post

June 6, 2018 | 9:54pm | Updated

Toys ‘R’ Us might have a white knight after all.

Its former chief executive from five years ago, Gerald Storch, is eyeing a deal that could save some stores before they shutter this summer, the distribution centers and most importantly the Toys ‘R’ Us trademarks as well as thousands of jobs, The Post has learned.

Storch, who was chairman and CEO of the company from 2006 to 2013, is in discussions with several venture groups that are considering buying the remaining parts of the storied retailer and bringing him on to the management team, a source with knowledge of the talks told The Post.

But the clock is ticking.

The linchpin of such a deal is the Toys ‘R’ Us portfolio of intellectual property assets, including its Babies ‘R’ Us name, domains and other trademarks associated with the 70-year-old company.

Those trademarks will be sold at an auction scheduled for June 18 at 10 a.m. at the New York City offices of Toys ‘R’ Us’ bankruptcy law firm, Kirkland & Ellis.

“It’s going to be really important who gets that intellectual property,” the source said.

About a month ago, Storch was seen at Toys ‘R’ Us headquarters by several people who reported the sighting to TheRockFather.com, a blog following the toy industry.

Storch declined to comment for this story.

His plan for Toys ‘R’ Us is to establish a new hub near the company’s Wayne, NJ-based headquarters to retain the top employees, many of whom have worked for the company for decades, said the source familiar with his thinking.

So far, about 150 of Toys ‘R’ Us’ 700-plus stores have been sold at an auction in April. Another auction including up to 150 additional stores is scheduled for June 11.

The rest of the US operations remains in play.

“Almost all of the pieces are left — the systems, distribution centers, stores, vendors — none of it is in anyone’s hands yet,” said the source, adding that the idea of acquiring the US operations would be “to buy all those things and put them back together really quickly.”

Interest in the trademarks and domains is high, sources say.

But Toys ‘R’ Us has already been warned that it has no right to sell any of the domain names associated with its former and now defunct subsidiary, KB Toys.

That brand is now owned by Strategic Marks, which bought it from the US Trademark office after Toys ‘R’ Us let it go dormant — and Strategic Marks is planning a major comeback for KB Toys, including opening 400 stores in malls by the holiday season.

Toys ‘R’ Us lists more than 60 iterations of the KB Toys domain name, that it hopes to sell on June 18, according to a bankruptcy court document.

“We are taking legal action to stop them,” Strategic Marks CEO Ellia Kassoff. said.

[danfifepsu]

This is good news but I feel I have doubts this will work too as all other previous "White knights" have been turned away c ause they wanted more money bid and how it seems after Christmas when Christmas sales were horrific the creditors insisted on liquidation.

Former Toys ‘R’ Us boss has plan to salvage chain

By Lisa Fickenscher, New York Post

June 6, 2018 | 9:54pm | Updated

Toys ‘R’ Us might have a white knight after all.

Its former chief executive from five years ago, Gerald Storch, is eyeing a deal that could save some stores before they shutter this summer, the distribution centers and most importantly the Toys ‘R’ Us trademarks as well as thousands of jobs, The Post has learned.

Storch, who was chairman and CEO of the company from 2006 to 2013, is in discussions with several venture groups that are considering buying the remaining parts of the storied retailer and bringing him on to the management team, a source with knowledge of the talks told The Post.

But the clock is ticking.

The linchpin of such a deal is the Toys ‘R’ Us portfolio of intellectual property assets, including its Babies ‘R’ Us name, domains and other trademarks associated with the 70-year-old company.

Those trademarks will be sold at an auction scheduled for June 18 at 10 a.m. at the New York City offices of Toys ‘R’ Us’ bankruptcy law firm, Kirkland & Ellis.

“It’s going to be really important who gets that intellectual property,” the source said.

About a month ago, Storch was seen at Toys ‘R’ Us headquarters by several people who reported the sighting to TheRockFather.com, a blog following the toy industry.

Storch declined to comment for this story.

His plan for Toys ‘R’ Us is to establish a new hub near the company’s Wayne, NJ-based headquarters to retain the top employees, many of whom have worked for the company for decades, said the source familiar with his thinking.

So far, about 150 of Toys ‘R’ Us’ 700-plus stores have been sold at an auction in April. Another auction including up to 150 additional stores is scheduled for June 11.

The rest of the US operations remains in play.

“Almost all of the pieces are left â€" the systems, distribution centers, stores, vendors â€" none of it is in anyone’s hands yet,” said the source, adding that the idea of acquiring the US operations would be “to buy all those things and put them back together really quickly.”

Interest in the trademarks and domains is high, sources say.

But Toys ‘R’ Us has already been warned that it has no right to sell any of the domain names associated with its former and now defunct subsidiary, KB Toys.

That brand is now owned by Strategic Marks, which bought it from the US Trademark office after Toys ‘R’ Us let it go dormant â€" and Strategic Marks is planning a major comeback for KB Toys, including opening 400 stores in malls by the holiday season.

Toys ‘R’ Us lists more than 60 iterations of the KB Toys domain name, that it hopes to sell on June 18, according to a bankruptcy court document.

“We are taking legal action to stop them,” Strategic Marks CEO Ellia Kassoff. said.

[Retail Fan+ (Justin Hill)]

This is good news but I feel I have doubts this will work too as all other previous "White knights" have been turned away c ause they wanted more money bid and how it seems after Christmas when Christmas sales were horrific the creditors insisted on liquidation.

I would not call those other people "white knights." The person looking to resurrect Toys "R" Us is Gerald Storch, who has experience working as Toys "R" Us' chief executive. He might have more money than the people who wanted to buy the chain and its trademarks than those before him.

I just hope that, to avoid a lawsuit, that Toys "R" Us sells off the remaining KB Toys trademarks, including Toy Works, to Strategic Marks.

[danfifepsu]

This is good news but I feel I have doubts this will work too as all other previous "White knights" have been turned away c ause they wanted more money bid and how it seems after Christmas when Christmas sales were horrific the creditors insisted on liquidation.

I would not call those other people "white knights." The person looking to resurrect Toys "R" Us is Gerald Storch, who has experience working as Toys "R" Us' chief executive. He might have more money than the people who wanted to buy the chain and its trademarks than those before him.

I just hope that, to avoid a lawsuit, that Toys "R" Us sells off the remaining KB Toys trademarks, including Toy Works, to Strategic Marks.

I am still skeptical and if its saved, horray and the sadness this put me through still remains. I had a dream 3 nights ago of them closing off parts of the store, in which now its becoming a reality.

I hope it reopens like Gander Mountain.

[Retail Fan+ (Justin Hill)]

Toys R Us could stay in the game if bidders make a play for the company

Joan Verdon, NorthJersey
Published 4:41 p.m. ET June 8, 2018

As going-out-of-business sales at Toys R Us stores enter their final weeks, there still is a chance the Wayne-based retail chain will find a last minute savior.

A number of interested parties are said to be considering making a play for some of the company's assets in order to keep Toys R Us alive, with stores operating in the United States.

Fairfax Financial Holdings Inc., the Canadian investment firm that purchased the Canadian Toys R Us operations, and the private equity and brand turnaround king C. Dean Metropoulos, who rescued Hostess Twinkies from extinction, are said to be possible bidders for some of the retailer's U.S. assets, according to toy industry insiders. Former Toys R Us Chief Executive Gerald Storch is also said to have a plan to keep the toy chain in business, according to sources.

Fairfax Financial Holdings and Storch declined to comment and Metropoulos' company did not respond to an inquiry from The Record.

The deck, however, is stacked against a possible buyer because of the piecemeal manner in which Toys R Us' assets are being sold off. Toys R Us used all of its assets â€" including its store properties and intellectual properties, such as its trade names and gift registries â€" as collateral for loans to re-finance the more than $5 billion in debt it was saddled as a result of a leveraged buyout in 2005.

Toys R Us filed for bankruptcy in September, and announced in March that it was beginning a full liquidation and sale of its assets. Stores in New Jersey and around the country are in the final stages of liquidation sales, with all stores expected to be closed by July 1.

Bloomberg Businessweek, in an extensive report this week on the complicated financial web that led to the collapse of Toys R Us, described the company's debt structure as being "as complex and precarious as a Jenga tower."

Attorneys for Toys R Us are holding an auction for 66 store leases on Monday morning. They have received 104 qualified bids for individual stores. A separate auction of Toys R Us intellectual property will be held a week later, on June 18. The bid deadline for those properties, which include the baby registry, customer mailing lists, trademarks, the Toys R Us and Babies R Us trade names, and the company's giraffe mascot, Geoffrey, is June 15.

A separate group of 50 store leases were auctioned off in April.

The goal of the bankruptcy court and the investors who provided the bankruptcy financing for Toys R Us is to maximize the revenue generated by the auction. For that reason, the assets could end up being more valuable if they are sold individually, rather than collectively to a buyer who wants to keep the U.S. stores in operation under the Toys R Us name.

Storch, who led Toys R Us from 2006 to 2013, is seen by some toy industry experts and manufacturers as the best hope to keep the company's stores alive in this country. But he would have to win the backing of some deep-pocketed investors.

He was brought in by the private equity firms that took Toys R Us private in 2005 and was charged with revitalizing the company and positioning it for a quick turnaround and stock offering that would give the owners a fast return on their highly leveraged purchase. Storch gave the company some of its best results in recent history but, faced with a dramatic retail recession that began in 2007, couldn't deliver the quick and lucrative stock offering the owners wanted.

After leaving Toys R Us in 2013, Storch was chief executive officer of Hudson's Bay Company, the owner of the Lord & Taylor and Saks Fifth Avenue retail stores from 2015 to 2017. Since leaving Hudson's Bay he has had his own consulting firm.

During his tenure at Toys R Us, Storch developed relationships with executives at toy companies who could help if he attempts to resurrect the chain. One of them, Isaac Larian, the owner of MGA Entertainment, who previously tried to make a bid for Toys R Us, wrote on Twitter that he is hoping Storch is able to put together a deal to save the company.

Dean Metropoulos is an investor who has made a fortune by rescuing iconic consumer brands like Twinkies and Pabst Blue Ribbon beer, and then selling them off at a big profit.

Fairfax Financial Holdings is led by the billionare Prem Watsa and based in Toronto. A bid for part of the U.S. operations would complement its recent purchase of the Canadian operations for $237 million U.S. dollars.

[danfifepsu]

Toys R Us could stay in the game if bidders make a play for the company

Joan Verdon, NorthJersey
Published 4:41 p.m. ET June 8, 2018

As going-out-of-business sales at Toys R Us stores enter their final weeks, there still is a chance the Wayne-based retail chain will find a last minute savior.

A number of interested parties are said to be considering making a play for some of the company's assets in order to keep Toys R Us alive, with stores operating in the United States.

Fairfax Financial Holdings Inc., the Canadian investment firm that purchased the Canadian Toys R Us operations, and the private equity and brand turnaround king C. Dean Metropoulos, who rescued Hostess Twinkies from extinction, are said to be possible bidders for some of the retailer's U.S. assets, according to toy industry insiders. Former Toys R Us Chief Executive Gerald Storch is also said to have a plan to keep the toy chain in business, according to sources.

Fairfax Financial Holdings and Storch declined to comment and Metropoulos' company did not respond to an inquiry from The Record.

The deck, however, is stacked against a possible buyer because of the piecemeal manner in which Toys R Us' assets are being sold off. Toys R Us used all of its assets â€" including its store properties and intellectual properties, such as its trade names and gift registries â€" as collateral for loans to re-finance the more than $5 billion in debt it was saddled as a result of a leveraged buyout in 2005.

Toys R Us filed for bankruptcy in September, and announced in March that it was beginning a full liquidation and sale of its assets. Stores in New Jersey and around the country are in the final stages of liquidation sales, with all stores expected to be closed by July 1.

Bloomberg Businessweek, in an extensive report this week on the complicated financial web that led to the collapse of Toys R Us, described the company's debt structure as being "as complex and precarious as a Jenga tower."

Attorneys for Toys R Us are holding an auction for 66 store leases on Monday morning. They have received 104 qualified bids for individual stores. A separate auction of Toys R Us intellectual property will be held a week later, on June 18. The bid deadline for those properties, which include the baby registry, customer mailing lists, trademarks, the Toys R Us and Babies R Us trade names, and the company's giraffe mascot, Geoffrey, is June 15.

A separate group of 50 store leases were auctioned off in April.

The goal of the bankruptcy court and the investors who provided the bankruptcy financing for Toys R Us is to maximize the revenue generated by the auction. For that reason, the assets could end up being more valuable if they are sold individually, rather than collectively to a buyer who wants to keep the U.S. stores in operation under the Toys R Us name.

Storch, who led Toys R Us from 2006 to 2013, is seen by some toy industry experts and manufacturers as the best hope to keep the company's stores alive in this country. But he would have to win the backing of some deep-pocketed investors.

He was brought in by the private equity firms that took Toys R Us private in 2005 and was charged with revitalizing the company and positioning it for a quick turnaround and stock offering that would give the owners a fast return on their highly leveraged purchase. Storch gave the company some of its best results in recent history but, faced with a dramatic retail recession that began in 2007, couldn't deliver the quick and lucrative stock offering the owners wanted.

After leaving Toys R Us in 2013, Storch was chief executive officer of Hudson's Bay Company, the owner of the Lord & Taylor and Saks Fifth Avenue retail stores from 2015 to 2017. Since leaving Hudson's Bay he has had his own consulting firm.

During his tenure at Toys R Us, Storch developed relationships with executives at toy companies who could help if he attempts to resurrect the chain. One of them, Isaac Larian, the owner of MGA Entertainment, who previously tried to make a bid for Toys R Us, wrote on Twitter that he is hoping Storch is able to put together a deal to save the company.

Dean Metropoulos is an investor who has made a fortune by rescuing iconic consumer brands like Twinkies and Pabst Blue Ribbon beer, and then selling them off at a big profit.

Fairfax Financial Holdings is led by the billionare Prem Watsa and based in Toronto. A bid for part of the U.S. operations would complement its recent purchase of the Canadian operations for $237 million U.S. dollars.

Lets hope this works better. a Friend of mine who is a business man said to me weeks ago "I Think someone will buy it out as its too good of a business to let go". I have tried to say same thing others dont realize, it was 5 billion in debt and I Thought if Toys r us was gonna go It'd be EARLY 2019, so I guess when they had a horrifying Xmas season Creditors demanded liquidation.

[retailfan]

looks like the end of the line
thought i would share this picture from Facebook as most TRU will close for good Friday

[JJBers]

While most stores are closing Friday, it seems that Waterford, Connecticut will be holding out for one extra day.

[danfifepsu]

While most stores are closing Friday, it seems that Waterford, Connecticut will be holding out for one extra day.

Milford closed today.

Nashua closed yesterday.

Concord, Manchester and Salem closed today.

newignton NH closes tomorrow.

[giantsfan2016]

According to Channel 3 yesterday (Wednesday) was also the last day at Brass Mill in Waterbury.

[Bdubs]

While most stores are closing Friday, it seems that Waterford, Connecticut will be holding out for one extra day.

I can’t understand why, there is practically nothing left in there. I just stopped by there on my way home from work today. Literally walked in, did a loop, walked out.

[bargansbythebagful]

Clay, NY


I walked away with this Geoffrey that was on the wall as you entered/exited the store.  So cool.

[danfifepsu]

Clay, NY


I walked away with this Geoffrey that was on the wall as you entered/exited the store.  So cool.

I went there last Sunday and they had not even rearranged the aisles since it opened.

NOW ALL THE STORES ARE GONE

[MikeinBuffalo]

https://www.flickr.com/photos/141912098@N03/41296970360/in/dateposted-public/


Here was the last day for my local TRU. The manager was not willing to sell me any signs or anything like that. I did manage to get a copy of Destiny for about 4 dollars for PS4.

[danfifepsu]

https://www.flickr.com/photos/141912098@N03/41296970360/in/dateposted-public/


Here was the last day for my local TRU. The manager was not willing to sell me any signs or anything like that. I did manage to get a copy of Destiny for about 4 dollars for PS4.

I went o the one in Clarence 6 days ago and it had a lot of stuff left.

[MikeinBuffalo]

I went o the one in Clarence 6 days ago and it had a lot of stuff left.

Yeah, there was quite a bit left even two days ago. I am not sure what they did with it.

[Retail Fan+ (Justin Hill)]

[JJBers]

Now we start the brand new process of seeing which companies buy which store. It's already happened with Circuit City, it can happen here.

[busman_49]

I walked away with this Geoffrey that was on the wall as you entered/exited the store.  So cool.

Amazing find!  I ended up dumpster-diving for a customer service sign, an aisle marker, and some Lego signs.

Excellent work on that collage!

[MikeinBuffalo]

That's it for Clarence! The lights are still on, but no one is home.

https://www.flickr.com/photos/141912098@N03/43158716421/in/dateposted-public/