Toys"R"Gone

tubemonkey · 03-18-2018, 04:38 AM

Your Toys 'R' Us closing questions answered

Quote:

A favorite shopping destination is closing its doors, and Toys "R" Us shoppers are wondering exactly how it will affect them.

Here's what we know so far.

1. When will Toys "R" Us closing sales begin?

The company has said that a firm timeline has yet to be determined.

There's a bankruptcy hearing on Tuesday where the company can get approval to start steep discounts and hang "Store Closing Sale" signs at most locations, according to Robert LeHane, an attorney representing creditors in the bankruptcy proceedings.

Ray Wimer, an assistant professor of retail practice at Syracuse University, said he expects discounts to start on the low end, around 20% to 30%, but they'll eventually climb to 75% to 80% off.

-story continues-

crich70 · 03-19-2018, 02:34 AM

And so we end an age. I remember visiting one of their stores a few times when I was a kid.

wodin · 03-19-2018, 03:11 PM

don't you mean Toys я Us?

tubemonkey · 03-19-2018, 03:37 PM

Quote:

Originally Posted by wodin

don't you mean Toys я Us?

They ain't us anymore, they is gone

Deskisamess · 03-19-2018, 04:27 PM

I liked taking the grandkids there when they were visiting or when we visit them. But my last two online shopping experiences with them were terrible. If they treated many customers that way, it sure didn't help them any.

One order was 2 of the same item. They shipped 1, and when I called CS, I was told, "The invoice says we shipped 2, so there is nothing we can do."

The second order wasn't for shipping, but ordered online for pickup at the local store. I don't remember why, but we cancelled that order, in person, at the store. They charged us anyway. I disputed the charge, so got the money back, but again, was told by CS that the order wasn't cancelled and that we had picked it up.

Some of the financial sites have good articles about their demise. The signs were there years ago, but they waited too long to try and fix it. Huge stores, high overhead, high prices, lousy customer support...

BetterRed · 03-19-2018, 06:06 PM

Quote:

Originally Posted by Deskisamess

Some of the financial sites have good articles about their demise. The signs were there years ago, but they waited too long to try and fix it. Huge stores, high overhead, high prices, lousy customer support...

And very high debt imposed by private equity consortium that acquired them in 2005. They had already been losing market share for twenty years. I'm surprised KKR and Bain hung onto it for so long, they should have stripped it soon after they bought it, and wound it up then.

BR

tubemonkey · 03-23-2018, 04:48 AM

Toys 'R' Us Founder Charles Lazarus Dies at 94

Quote:

Charles Lazarus, who combined supermarket-style service with touches of whimsy in creating Toys “R” Us Inc., a retail success that fought high debt and fierce competition and finally succumbed just last week, has died. He was 94.

He died Thursday in Manhattan, Michael Goldstein, a close friend who was the company’s former chairman, said in a phone interview.

From the first Toys “R” Us outlet, opened in 1957 in the Maryland suburbs near his hometown of Washington, Lazarus stuck to a winning formula of high volume, discounted prices and cookie-cutter predictability.

crich70 · 03-23-2018, 07:22 AM

Quote:

Originally Posted by tubemonkey

Toys 'R' Us Founder Charles Lazarus Dies at 94

It sounds like the store deviated from his formula and so he outlived it. A shame.

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Deskisamess Wizard Posts: 2,607 Karma: 42697471 Join Date: Sep 2012 Location: Ohio Device: iPhone 7+, iPad mini, 2021 iPad Pro 12.9",Paperwhite 6.8"	I liked taking the grandkids there when they were visiting or when we visit them. But my last two online shopping experiences with them were terrible. If they treated many customers that way, it sure didn't help them any. One order was 2 of the same item. They shipped 1, and when I called CS, I was told, "The invoice says we shipped 2, so there is nothing we can do." The second order wasn't for shipping, but ordered online for pickup at the local store. I don't remember why, but we cancelled that order, in person, at the store. They charged us anyway. I disputed the charge, so got the money back, but again, was told by CS that the order wasn't cancelled and that we had picked it up. Some of the financial sites have good articles about their demise. The signs were there years ago, but they waited too long to try and fix it. Huge stores, high overhead, high prices, lousy customer support...