Toys R Us Liquidation :(

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Found this on the Toys R Us website.
https://www.toysrusinc.com/blog
Customer FAQ: U.S. Liquidation

1. Is my local store still open?
• Yes. All our stores are currently open and serving customers.
• We expect liquidation sales to begin on March 23, 2018.

2. Will there be a going-out-of-business sale?
• Yes. Liquidation sales are expected to begin on March 23, 2018.

3. Will you still host store events, including Babies First Easter events?
• All store events have been cancelled effective March 22, 2018.

4. Can I still make purchases through the website?
• Yes. The Company’s web stores are currently open and customers can continue to shop on them for a limited time.

5. What happens if I placed an order online, but haven’t received it yet? Will it still be delivered?
• Customers can expect to receive any orders that have already been placed.

6. I ordered goods on www.babiesrus.com and it is very delayed. When will it come?
• We did have some delays in delivery and are working with our vendors to arrange delivery for these orders as soon as possible.

7. Will customers be able to use their loyalty rewards toward purchases?
• No. Customers will no longer be able to use Rewards coupons, effective March 22, 2018.

8. Will customers be able to continue to earn loyalty rewards?
• No. You may see points accrue on your account, but please know that these points cannot be redeemed any longer. We apologize for any confusion this may cause.
• Endless earnings, in the form of e-gift cards, will be accepted for another 30 days, effective March 23, 2018.

9. What if I have accumulated points that have not been paid out? Can I get my points sent out to me now/early?
• Our Endless Earnings program will continue to be honored through and including April 21, 2018.

10. Will customers who signed up for a Toys“R”Us credit card still receive the same benefits?
• Customers can continue to use their Toys“R”Us credit card for through the end of the liquidation sales.
• However any rewards or discounts previously associated with the cards will no longer be accepted/provided.

11. Will we still be accepting gift cards during this closing?
• Gift cards, including e-gift cards, will continue to be honored through and including April 21, 2018.
• Gift cards from Canada will no longer be accepted in the U.S. effective March 22, 2018.

12. Will we still be accepting coupons during this closing?
• We’re no longer accepting any coupons in our stores or online, effective March 22, 2018.

13. What about Geoffrey Birthday Club?
• We’re no longer accepting coupons – including Geoffrey Birthday Club coupons, in our stores or online, effective March 22, 2018.

14. What about the coupons distributed in the recent direct mail/Easter catalog?
• We’re no longer accepting coupons – including Geoffrey Birthday Club coupons, in our stores or online, effective March 22, 2018.

15. Can I redeem my gift card or coupon for cash?
• No, gift cards and coupons cannot be returned for cash.

16. Will closing stores be able to complete price adjustments for purchases made before the announcement?
• No, unfortunately once liquidation sales start, all sales are final.

17. What are return policies at closing stores?
• We are continuing to accept returns under our normal policies for any purchases made at non-closing stores or online until April 21, 2018.
• However, any purchases made during store closing sales (including those store closings that have been in process at certain stores for the last few months and those that are beginning on Thursday, March 22) are all final and returns will not be accepted.
• Gift cards cannot be returned for cash.

18. Will there be special pricing, promotions or policies?
• Yes, we will offer deep discounts and promotions.
• Gift cards will continue to be honored through and including April 21, 2018.
• Any purchases made during the store closing process are final at sale.

19. Who will handle customer complaints at the closing stores?
• Our store team members and company Customer Service department are continuing to assist you with customer complaints.

20. What will happen to items on layaway at affected stores?
• We are providing notices to customers with items on layaway.
• Upon receipt of that notice, customers will have 21 days to either pay the remaining balance due and retrieve their product, demand a refund on any deposit, or forfeit the product and their deposit.
• If customers don’t take any action, the liquidators will have the right to sell the product as part of the liquidation after the 21 day notice period.

21. What happens to my registry at Babies“R”Us?
• We will not be accepting new registrants, however existing registrants can continue to access their registries while the webstore remains open.
• The web store is currently open for a limited time.
• We encourage you to save or write down the products on your registry as soon as possible so you will have a list of those products you wanted before the registry is turned off.

22. Where can customers go if they have additional questions?
• For questions about products, warranties or rewards, customers in the U.S. should continue to contact our Customer Service Department at 1 (800) TOYSRUS or 1 (800) 869-7787 between the hours of 8 AM and 11 PM ET.
• International customers can contact their local Customer Service teams as usual. If customers have questions regarding the financial restructuring process, or for information about which stores will be affected, they can visit our newsroom site at www.toysrusinc.com.

http://toysrusclosingsale.com
https://www.toysrus.com/cobrand/help/liquidation-going-out-of-business-faqs
 
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Yeah, sad to see some of big traditional retail shops closing down. Sign of the times I guess.
 
There is a lot of that happening lately and it's only going to get worse.
 
They are closing there doors as well, filed for bankruptcy protection a few months ago
 
Found this on the Toys R Us website.
https://www.toysrusinc.com/blog
Yup, this made me sad.

However, it may not be gone for good. The current company has too much debt to be saved. There are offers out there to buy the Toys-R-Us brand name and multiple store locations. We will see how that pans out.
 
Toys are outdated. Beyond 5-6 kids just play video games. TRU has nothing but junk anyway. Good riddance I say.
 
Toys R Us was bought out by a hedge fund in 2005 and then loaded with debt from the sale. It couldn't compete with Amazon so loaded with debt.

More info here:
https://www.marketplace.org/2018/03/06/business/toys-r-us-and-how-retail-downturn-story-about-debt

...In 2005, the Toys R Us board of directors sold the company for $6.6 billion to the private equity firms Bain Capital and KKR and the real estate investment firm Vornado. The firms put up about 20 percent of the total and borrowed the rest.

Toys R Us became a private company with more than $5 billion in debt. And then things went off the rails.

“The beginning of the problems for Toys was that Amazon.com exploded,” said Charlie O’Shea, lead retail analyst at Moody’s.

During the next five years, sales at Amazon quadrupled to $34 billion.

“Amazon went into the toy sector in a big way,” O’Shea said, and it “added one more big competitor for Toys R Us.”

To compete, Toys R Us would have had to invest significantly in its website and stores. But the retailer was using most of its available cash to pay back its debt.

And that’s the thing about leveraged buyout deals. They leave companies with a lot of debt and almost no cash. If something goes wrong in the industry, it’s hard to survive.

Which brings us to last summer. Sales at Toys R Us had fallen for five years. Management hired lawyers to try to push off the company’s next loan payment. Word got out that the company might go bankrupt, and toymakers panicked.

One CEO, who asked to remain anonymous because he still does business with Toys R Us, was about to send millions of dollars worth of toys to the retailer.

“We were cancelling vessels,” he said. “We were doing everything we could to stop new goods getting on the water.”

Other toymakers demanded that Toys R Us pay them up front in cash. The retailer didn’t have it.

And that’s what drove the company to file for Chapter 11 bankruptcy in September. And in doing so, it joined a growing list of private equity-backed retailers to go bankrupt, including The Limited, Gymboree, Payless and Sports Authority...
 
Toys are outdated. Beyond 5-6 kids just play video games. TRU has nothing but junk anyway. Good riddance I say.

If you let them. Earlier than that, even. My 4 year old grandson would veg out on the tablet non stop if we'd let him. We don't. Around here, we encourage sporting equipment as toys. Balls of all sorts, Frisbee, age appropriate petaled and powered vehicles, fishing gear, swing sets... Get them kids off the couch and out into the world.

Still, none of that stuff would come from toys r us. I'm way out in the woods... isn't one anywhere near me anyway. Amazon may be killing off the brick and mortar stores, but it's a godsend out here in the woods.
 
If you let them. Earlier than that, even. My 4 year old grandson would veg out on the tablet non stop if we'd let him. We don't. Around here, we encourage sporting equipment as toys. Balls of all sorts, Frisbee, age appropriate petaled and powered vehicles, fishing gear, swing sets... Get them kids off the couch and out into the world.

+1 on this
 
KB TOYS IS COMING BACK...that's all I know and it makes me happy!
Don't get too excited. They aren't promising any permanent store locations. This may just be a short blip during the upcoming holiday season.
 
It is sad, I worked for Corporate headquarters in Wayne NJ for 2 years. It was a beautiful campus. But the owners did everything they could to drive up debt and also not keep up with the trends of current kids, technology and electronics. Still, I have several friends there out of a job in a month or so.
 
We have a 4 year old daughter and she is obsessed with phones, tables and even my computer now. We try to limit how much she plays on them, but I am convinced that allot of this is just new technology hype. They all said TV would rot your brain, then in my generation it was get off that Nintendo or it's gonna rot your brain. That said, she still loves playing with toys. Especially when her little cousin comes over. They will play with hotwheels, magnetic building blocks, her dolls, and she loves playdoh. Toys R US is an American icon, and atleast in our home was a Christmas tradition. My sister and I loved getting to go a few weeks before Christmas and make our "lists". We've been doing it with our daughter and she loves it as well. Hopefully they won't all go away.

She literally just came in and asked me if I knew where the iPad charger was. LOL
 
It is sad, I worked for Corporate headquarters in Wayne NJ for 2 years. It was a beautiful campus. But the owners did everything they could to drive up debt and also not keep up with the trends of current kids, technology and electronics. Still, I have several friends there out of a job in a month or so.

Did you ever get to meet Charles Lazarus?

WAYNE, N.J., March 22, 2018 – Toys“R”Us, Inc. today issued the following statement:

There have been many sad moments for Toys“R”Us in recent weeks, and none more heartbreaking than today’s news about the passing of our beloved founder, Charles Lazarus, after a period of declining health. He visited us in New Jersey just last year and we will forever be grateful for his positive energy, passion for the customer and love for children everywhere. Our thoughts and prayers are with Charles’ family and loved ones.
 
We have a 4 year old daughter and she is obsessed with phones, tables and even my computer now. We try to limit how much she plays on them, but I am convinced that allot of this is just new technology hype. They all said TV would rot your brain, then in my generation it was get off that Nintendo or it's gonna rot your brain. That said, she still loves playing with toys. Especially when her little cousin comes over. They will play with hotwheels, magnetic building blocks, her dolls, and she loves playdoh. Toys R US is an American icon, and atleast in our home was a Christmas tradition. My sister and I loved getting to go a few weeks before Christmas and make our "lists". We've been doing it with our daughter and she loves it as well. Hopefully they won't all go away.

She literally just came in and asked me if I knew where the iPad charger was. LOL

Sounds like your going to have in home Tech Support in a few years. ;)
 
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.
 
Amazon is killing brick and mortar anything right now. I can get pretty much anything I need, in two days, with free shipping and I don't even have to put pants on!

Amazon prime, grocery, tv, movies, books, nook, Alexa... they even have a home delivery option where the delivery guy(or gal) places your package inside your front door. Creepy if you ask me, but it's all part of Amazon's plan to have you completely dependent on them.

The sad part about the toy industry going under is that kids just don't play with toys anymore. I grew up in the 90s, we had video games but they weren't crazy advanced like my Xbox One is. I had an original Nintendo for the longest time, and it got boring after a little while. We played outside most of the time. We had a tree fort, and we'd spy on the girls in the neighborhood. When the Jurassic Park movies were big I remember having all the action figures and playing out dinosaur fights in the yard. Now, kids have the latest Jurassic World game on their iPhone...

I'm probably never going to end up with kids, but if I did, I'd do them like my parents did me and kick their little butts outside and don't let them come back except for lunch and dinner.
 

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