Toys R Us Liquidation :(

[Big G]

As a recently retired director level manager for them I can tell you that this was all part of the plan. When originally purchased in 2005 the plan was to liquidate toys and sell off Babies R Us and the real estate. Before that could happen the recession hit and drove values below what was profitable to sell off. So for the next 12 years the owners, Bain, KKR and Vornado, took every dime they could out of the company while putting zero in. A little over a year ago they separated out all of the valuable real estate into a separate company so that it could not be included in assets that fell into the bankruptcy filing. The CEO chose to announce the bankruptcy last September knowing that it would doom the company. All part of the plan. In the end, the ownership group profits and everyone else is left with virtually nothing. That's how the bankruptcy laws are set up. Of the rich, by the rich and for the rich.

That's as bad as those guys on Wall Street betting on stocks going down. Seems to me the American thing to do are positive things.
"Why don't you knock it off with them negative waves? Why don't you dig how beautiful it is out here? Why don't you say something righteous and hopeful for a change?" Oddball from Kelly's Heroes.

 

[Sarah24!]

Hello all,

So this may sound shocking to most, but hey honesty at its best right. When I heard Toys R Us was closing it literally almost made me cry. I mean come on if somebody wants to have a fun shopping spree, where else would they go. I had so much fun going shopping there, for my brothers kiddos and of course me.

It was neat to still see some of the cool toys from when I was still a child. I’m going to miss seeing all of the wooden Thomas the train toys, and the neat cute Calico Critters, not to mention the lovely legos. I was always able to find neat stuffed animals there, and neat porcelain dollies for my little niece. Such sad times, and they may have been a little more expensive, but so worth the lovely experience.

 

[EdsReefOdyssey]

As a recently retired director level manager for them I can tell you that this was all part of the plan. When originally purchased in 2005 the plan was to liquidate toys and sell off Babies R Us and the real estate. Before that could happen the recession hit and drove values below what was profitable to sell off. So for the next 12 years the owners, Bain, KKR and Vornado, took every dime they could out of the company while putting zero in. A little over a year ago they separated out all of the valuable real estate into a separate company so that it could not be included in assets that fell into the bankruptcy filing. The CEO chose to announce the bankruptcy last September knowing that it would doom the company. All part of the plan. In the end, the ownership group profits and everyone else is left with virtually nothing. That's how the bankruptcy laws are set up. Of the rich, by the rich and for the rich.

I bet the CEO got a really nice Golden Parachute. I’m trying not to go off on a Crony Capitalism rant!!! :mad:

@OLDREEFER44 Thanks for sharing your insider info.

 

[EdsReefOdyssey]

When you go to the Toys R Us website you now get this message.

Thanks for visiting. We have shut down the website for any purchases but our brick and mortar stores are open and holding going out of business sales. You can keep up-to-date with the sale at http://toysrusclosingsale.com and liquidation-going-out-of-business-FAQs. We encourage you to stop by your local store and take full advantage of the deep discounts and deals available. Thank you for your business and support over the years.

Sincerely, Toys”R”Us and Babies”R”Us teams.

http://toysrusclosingsale.com
https://www.toysrus.com/cobrand/help/liquidation-going-out-of-business-faqs

 

[FredsNJReef]

Did you ever get to meet Charles Lazarus?

No, unfortunately. Everyone said he was a great man. I did meet the next CEO, Jerry Storch. He used to fly his helicopter to our landing pad sometimes.