The Demise of the Toy Store (1 Viewer)

[GroveDiesel]

Reports are that ToysRUs will likely enter liquidation this week barring a last second intervention. That will mean the closing of all of their stores and a selling off of assets. 

Kind of sad to think about how toy stores will be almost non-existent. I know they're often a nightmare for parents, but there's something magical to kids about wandering around a toy store.

https://www.bloomberg.com/news/articles/2018-03-08/toys-r-us-said-to-be-prepping-liquidation-of-u-s-operations

And if you have gift cards (TRU or BabysRUs), you should use them ASAP. Once they officially file for liquidation, there's a very good chance that they will no longer accept gift cards as they close out everything. We happened to find a few laying around that we had misplaced after the baby shower for my daughter. Just spent $170 tonight letting my daughter pick out a bunch of Lego sets.

 

[comfortably numb]

Can they do That? Not honor gift cards?

 

[culdeus]

Can they do That? Not honor gift cards?

They will certainly try.  The CFPB has been gutted under Trump and there is no real reason to think they will try and help out in this situation.

Your best bet is to try to get them liquidated for things like game consoles and other items that have decent ebay resale value.

 

[shadyridr]

Went Saturday to spend all my gift cards. My son was happy

 

[The Big Guy]

It seems like many of the specialty retailers are being taken out by the combo of Amazon and WalMart.  Soon those will be our only options and that will suck.

 

[NutterButter]

The toy store should change their business model and become more like a quasi daycare.   They're usually conveniently located nears other stores so if you need to do some shopping, you can drop them off for a few hours.  The kid will have the time of her life.

 

[AAABatteries]

Honestly, I’m surprised more stores aren’t closing.

 

[gianmarco]

The toy store should change their business model and become more like a quasi daycare.   They're usually conveniently located nears other stores so if you need to do some shopping, you can drop them off for a few hours.  The kid will have the time of her life.

You know, this is a brilliant idea. Seriously.

 

[Cjw_55106]

They will certainly try.  The CFPB has been gutted under Trump and there is no real reason to think they will try and help out in this situation.

Your best bet is to try to get them liquidated for things like game consoles and other items that have decent ebay resale value.

 Companies in bankruptcy or liquidation not accepting gift cards has been an issue long before the current president, but hey, Trump!

 

[James Daulton]

Man walking the aisles of Toys R Us is still one of my most vivid memories of being a kid.  Literal heaven.

And waiting in line for hours pre-dawn to get my kids a Wii many years ago is also something I'll never forget.  Nor their amazement when they opened the Wii at Christmas. 

Sad to see you go Toys R Us. 

 

[Thunderlips]

The toy store should change their business model and become more like a quasi daycare.   They're usually conveniently located nears other stores so if you need to do some shopping, you can drop them off for a few hours.  The kid will have the time of her life.

They thought they could do something like that.  They've been hamstrung by their debt for 10+ years.  They haven't been able to REALLY innovate anything.  

 

[Thunderlips]

As much as I(and my children) like TRU......seems like another case of a company that was on top that didn't recognize the dangers around them.  Just like Borders Books....they made a deal with Amazon in regards to their online sales and weren't able to correct that when it went bad....right when online sales started really taking off.  They didn't recognize that they needed their prices to be competitive with WALMART and Target (just look at their LEGO prices) and they didn't move more quickly to innovative things they could have done at their stores (birthday parties, game demonstrations, giant displays that made them even more of a "must go to" for children.

 

[bentley]

Two points:

1. My boys and I have a great time in the toy department at Target plus local stores so we aren’t out anything.

2. The bigger issue here is really the sale to KKR a decade ago as a real estate play with no consideration for the core business other than wringing a profit out of it. This is a classic case of the 1% exploiting the 99% and then the lame laying on other factors.

 

[Caesar]

There is almost zero reason to go to a specialty store anymore when you can get pretty much anything you want on Amazon, Wal-Mart, Target, Etc.  TRU was always a little more expensive and the selection wouldn't make up for the lack of convenience and price.

This seems to be the way of the new world, and this is what's turning malls into ghost towns. 

There is a shoppiong strip I drive by every day.  It is new and has been opened for a little over a year.  So far, there is one business in there and it is a restaurant.  The other 4-5 shops have never been rented.  What's really cool is half a mile up the street, they are building another shopping strip. 

 

[Cjw_55106]

My biggest issue with TRU is their stuff was always more expensive than the other stores. 

 

[culdeus]

TRU was a soft spot for credit card churners.  You could spin up gift cards through their 503b plan and cash it back to yourself.  People would do 6 figures in volume through there.

 

[culdeus]

 Companies in bankruptcy or liquidation not accepting gift cards has been an issue long before the current president, but hey, Trump!

Context is important.  I acknowledged that fact at least through inference, and that it would likely be even more difficult than past similar situations due to the current CFPB funding patterns.  CFPB isn't the only avenue to protest this potential money grab by TRU, but it at least is an option.  They filed in September 2017 and AFAIK they haven't done anything too crazy yet.  

 

[Reg Lllama of Brixton]

TRU was a soft spot for credit card churners.  You could spin up gift cards through their 503b plan and cash it back to yourself.  People would do 6 figures in volume through there.

wat

 

[thecatch]

Context is important.  I acknowledged that fact at least through inference, and that it would likely be even more difficult than past similar situations due to the current CFPB funding patterns.  CFPB isn't the only avenue to protest this potential money grab by TRU, but it at least is an option.  They filed in September 2017 and AFAIK they haven't done anything too crazy yet.  

Why do you think the CFPB has anything to do with this?  

 

[culdeus]

Why do you think the CFPB has anything to do with this?  

There will need to be lawsuits with the state AG offices. CFPB can help negotiate terms in those relative to bond holders.  It helped in the Radio Shack case in Texas at least.  I only know this as I know one of the plantiff's attorneys that worked that thing.  In reality it mainly helped him get a nice outdoor kitchen.  

 

[Tom Servo]

My sons love TRU. Of course, I won a Tim Hortons gift card via shopping there on Black Friday. Tim Hortons asked about your BF shopping experience and I said that because of the BF crowds, I was now well acquainted with the most popular colognes and perfumes.

 

[msommer]

Why are we sad that such stores close?

Is it the loss of (inefficiently carried out) jobs?

Is it the lack of retraining options for former unskilled employees?

 

[PIK95]

Why are we sad that such stores close?

Because many of us are not robots, and we enjoy social experiences and smiles on our children's faces.  Amazon suxors.

 

[shadyridr]

Why are we sad that such stores close?

Is it the loss of (inefficiently carried out) jobs?

Is it the lack of retraining options for former unskilled employees?

Children love going to ToysRus. I love my child. Hence, I would be sad to see the store close

 

[STEADYMOBBIN 22]

There is almost zero reason to go to a specialty store anymore when you can get pretty much anything you want on Amazon, Wal-Mart, Target, Etc.  TRU was always a little more expensive and the selection wouldn't make up for the lack of convenience and price.

This seems to be the way of the new world, and this is what's turning malls into ghost towns. 

There is a shoppiong strip I drive by every day.  It is new and has been opened for a little over a year.  So far, there is one business in there and it is a restaurant.  The other 4-5 shops have never been rented.  What's really cool is half a mile up the street, they are building another shopping strip. 

One reason is it’s nice to be able to physicaly touch the item you want prior to purchase. I imagine in the next 10 years you’ll be able to simulate that experience via VR. It’s gonna get real freaky.

I agree with everything else you wrote. So bizarre that they build ghost towns. They do it with office space a lot too. 

 

[BassNBrew]

There is almost zero reason to go to a specialty store anymore when you can get pretty much anything you want on Amazon, Wal-Mart, Target, Etc.  TRU was always a little more expensive and the selection wouldn't make up for the lack of convenience and price.

This seems to be the way of the new world, and this is what's turning malls into ghost towns. 

There is a shoppiong strip I drive by every day.  It is new and has been opened for a little over a year.  So far, there is one business in there and it is a restaurant.  The other 4-5 shops have never been rented.  What's really cool is half a mile up the street, they are building another shopping strip. 

I keep hearing this but last week at Concord Mills I spent 10 mins getting into the complex and it took quite a while to find an empty parking space.  Pretty sunny day to boot.

 

[msommer]

Because many of us are not robots, and we enjoy social experiences and smiles on our children's faces.  Amazon suxors.

Children love going to ToysRus. I love my child. Hence, I would be sad to see the store close

Then I suppose there does not seem too be enough of you willing to pay a premium for less than market leading range and waiting in the check out lanes.

Now, I love my children as well, and when I give the gifts I have purchased on the internet I delight in their reaction, and in that I have not had to endure the crappy service of bricks of mortar stores like Toys'R'Us seem fit to provide - while wasting time on transportation.

Now, about stores like Best Buy and Circuit City - is your support of the b&m place wth crappy service at premium prices also going to be based on the smiles on the faces of your children? 

 

[bigmarc27]

Honestly, I’m surprised more stores aren’t closing.

As soon as our Amazon overlords announce ATL as base #2, I’m taking my property $bump and heading out!

 

[NutterButter]

There is almost zero reason to go to a specialty store anymore when you can get pretty much anything you want on Amazon, Wal-Mart, Target, Etc.  TRU was always a little more expensive and the selection wouldn't make up for the lack of convenience and price.

This seems to be the way of the new world, and this is what's turning malls into ghost towns. 

There is a shoppiong strip I drive by every day.  It is new and has been opened for a little over a year.  So far, there is one business in there and it is a restaurant.  The other 4-5 shops have never been rented.  What's really cool is half a mile up the street, they are building another shopping strip. 

My kids are just fine with the Walmart in person shopping experience.   The great thing about Walmart is that since no one actually works there that gives a crap, you can literally take the toy out of the box and play with it while you're in the store.   I should bring my kids there and have them build legos all day.  

 

[shadyridr]

Then I suppose there does not seem too be enough of you willing to pay a premium for less than market leading range and waiting in the check out lanes.

Now, I love my children as well, and when I give the gifts I have purchased on the internet I delight in their reaction, and in that I have not had to endure the crappy service of bricks of mortar stores like Toys'R'Us seem fit to provide - while wasting time on transportation.

Now, about stores like Best Buy and Circuit City - is your support of the b&m place wth crappy service at premium prices also going to be based on the smiles on the faces of your children? 

ToysRUs' demise is not entirely related to Amazon. Also, target and Walmart seem to be doing fine.

 

[belljr]

Remember KayBee Toy stores?

 

[Ted Lange as your Bartender]

Remember KayBee Toy stores?

Kiddie City ftw

 

[BassNBrew]

Then I suppose there does not seem too be enough of you willing to pay a premium for less than market leading range and waiting in the check out lanes.

Now, I love my children as well, and when I give the gifts I have purchased on the internet I delight in their reaction, and in that I have not had to endure the crappy service of bricks of mortar stores like Toys'R'Us seem fit to provide - while wasting time on transportation.

Now, about stores like Best Buy and Circuit City - is your support of the b&m place wth crappy service at premium prices also going to be based on the smiles on the faces of your children? 

I usually get great service at Best Buy.

 

[zamboni]

I am actually surpised Toys R Us made it as long as they did after falling on hard times several years ago.

Record stores, electronics stores and many other specialty retailers have fallen victim to on-line retailing and the low pricing of Wal-Mart, Target, etc.  Toy stores are just the next to go.

 

[STEADYMOBBIN 22]

Remember KayBee Toy stores?

Even as a child I didn’t know how they were in business. Cramped stores with stuff falling off the shelves and everything was substantially overpriced. 

 

[nightmare]

I do not understand the sympathy this big box retailer is generating. Toy's R Us put small local toy
stores out of business, now through bad business practices Toy's R us is going under. This is just
business as usual.   

 

[STEADYMOBBIN 22]

I usually get great service at Best Buy.

I have recently. Well with the exception of attempting to buy a phone there. They seem to have really put a premium on customer service as of late. 

I still dont go there unless I absolutely must or want to preview a product before buying it elsewhere. It’s almost always cheaper elsware but I’ll still pay a little bit more for it rather than support BB. They really treated me poorly years ago when my Xbox360 bricked and I bought the extended warranty. They accused me of opening the Xbox myself which I didn’t. I was irate. So irate in fact that they sent an email to their other stores warning them about me attempting to return the 360. 

I learned two two valuable lessons, don’t lose your temper even if you’re right and never to shop at Best Buy again. 

 

[STEADYMOBBIN 22]

I do not understand the sympathy this big box retailer is generating. Toy's R Us put small local toy
stores out of business, now through bad business practices Toy's R us is going under. This is just
business as usual.   

I don’t think anyone is really sympathetic of ToysRUs going out of business, I think folks are just sad that there won’t be a massive toy store to watch their kids explore. 

 

[BassNBrew]

I have recently. Well with the exception of attempting to buy a phone there. They seem to have really put a premium on customer service as of late. 

I still do t go there unless I absolutely must or want to preview a product before buying it elsewhere. They really treated me poorly years ago when my Xbox360 bricked and I bought the extended warranty. They accused me of opening the Xbox myself which I didn’t. I was irate. So irate in fact that they sent an email to their other stores warning them about me attempting to return the 360. 

I learned two two valuable lessons, don’t lose your temper even if you’re right and never to shop at Best Buy again. 

They were a great help with a drone purchase.  They matched an online add on a speaker that was marked down a ridiculous amount elsewhere.  They blow the Apple store away in service and pricing.  It gotten an extra 5-10% off on a couple of recent open box purchases.

 

[BassNBrew]

I do not understand the sympathy this big box retailer is generating. Toy's R Us put small local toy
stores out of business, now through bad business practices Toy's R us is going under. This is just
business as usual.   

I don’t think anyone is really sympathetic of ToysRUs going out of business, I think folks are just sad that there won’t be a massive toy store to watch their kids explore. 

This and having a lack of choices is a bad thing in the long run.

 

[ghostguy123]

Seems like a lot of people browse at the stores then buy cheaper online.  When there are no more stores to browse in, then what?  

 

[ghostguy123]

Oh, and the toys r us child watch thing with all the toys might be a decent idea in theory, but play in out in your head a bit.  There would be so much filthy goo on all those toys withing a few months.  Would not work.  You ever really look at some of the toys at a day care?  

 

[STEADYMOBBIN 22]

Seems like a lot of people browse at the stores then buy cheaper online.  When there are no more stores to browse in, then what?  

To be fair I really only do this with BB. I try hard to support local stores. As I wrote in my post above, BB effed me out of several hundred dollars on top of accusing me of being a charlatan. I don’t feel even the slightest bit guilty using them. 

 

[belljr]

the toys r us today is not the one i remember as a kid.   They seem all cluttered now

 

[STEADYMOBBIN 22]

Oh, and the toys r us child watch thing with all the toys might be a decent idea in theory, but play in out in your head a bit.  There would be so much filthy goo on all those toys withing a few months.  Would not work.  You ever really look at some of the toys at a day care?  

I would think the insurance costs and inevitable lawsuits would drive that business model away. 

 

[STEADYMOBBIN 22]

the toys r us today is not the one i remember as a kid.   They seem all cluttered now

The selection is so sparse too. When I was a kid there were so many more toys and the displays were massive. 

 

[NeverEnough]

Why are we sad that such stores close?

Is it the loss of (inefficiently carried out) jobs?

Is it the lack of retraining options for former unskilled employees?

I have many fond memories of Toys R Us as a kid with my Grandparents. It was like Christmas when I got to go & pick out a TMNT or GI Joe action figure.

 

[zamboni]

Nostalgia

A few child actors there, including Urkel at the end.

 

[Capella]

Everybody being sad about this place thinks kids see the world the same as we did in 1983. Your kids likely don’t give a #### about toys r us. They have iPads, YouTube, tvs with 10000 channels, droids, robots — millions of things we didn’t have. They may like the idea of walking into one of these big stores but they’re coming out way ahead. Don’t conflate your childhood memories with theirs imo. 

 

[Phil Elliott]

Getting the annual Christmas catalog in Nov kept the kids busy for days. "Circle what you are interested in...and you can't circle everything."