A report today from various news sources (we’ve chosen to look at BusinessInsider.com) tells us that Toys’R’Us is spending a lot more money than it has been earning over the last fiscal year – to the point of $400 million dollars more – and has hired a law firm to help consolidate its debt while considering the option of filing for bankruptcy protection.
This is not the first time the retail toy store has dealt with financial woes – in 2003 the company closed 180 stores across the country.
Toys’R’Us blames a large portion of their current losses not to a failing toy industry but to losses from its Babies’R’Us sister store, which saw over a 3.0% decline in year over year sales and a massive drop in diaper purchases as consumers can find cheaper deals for their infant and toddler necessities online. Either way, if Toys’R’Us shuts down more stores or ends up going out of business altogether, fans of Power Rangers wonder what the future of the Legacy toy line may be.
With the release of the Power Rangers Movie failing to meet expectations, the movie toy line warming shelves in stores, and the Power Rangers Ninja Steel toy line already hitting clearance prices across the country, having the biggest partner of the franchise possibly go under is not something to keep one optimistic about a future of increasingly expensive Power Rangers collector items.
We should know more about this on September 26th when the next earnings report is due to be made public. With the hiring of a private law firm to work on consolidating debt, we assume the report will be dismal at best. Stay tuned for more news on the future of Toys’R’Us.
EDIT & UPDATE: Chapter 11 has been filed
http://news.tokunation.com/2017/09/1...nkruptcy-45777
The end is nigh
http://www.businessinsider.com/toys-...-report-2017-9
I hate this!!!!!!!
I have literally asked them to bring a store back where I live cause I shouldn't have to go northward for two hours to one of the few in my state! Where I am, they closed the original back in 2002 or 2003. The local mall opened some Express locations around 2011/2012, but the agreements fell through a year or two ago and the last several Winters were without. I believe in Toys R Us and ALWAYS WILL!!! I don't like dealing with Amazon too much for product delivery, and Walmart is a "necessary evil" because of all of the problems in its life (doesn't take much to find Youtube videos slamming their practices)!
Walmart doesn't have near the same level of exclusives and collectible memorabilia and Amazon, well....
I seriously hope that a Toys 'R Us Renaissance results from this, cause a world without them is depressing for kids and 20-somethings with more figures than a toy museum!
I'm not at all surprised by this given the state my local TRU has been in for years. They still have 2009 GI Joe stuff clogging up the place and there comes a point when you just need to stop trying to sell them.
Hell, even barring the local place, their online ordering was pretty terrible. I recall the last time I ordered something from them they sent the bloody thing in a bubble mailer, which is fine for a DVD or Game- but not a figure card. Damn thing was smashed to hell and back.
I'm shock to see this happen. I think with people just buying stuff online on Amazon, less people are going out to buy things at local retail stores.
Eh, I always found them overpriced to be honest. I won't be too mad about this.
There's only one within 20 miles of me.
Oh no.
Now where will Bandai sell their ugly overpriced Zords???
Now where will Bandai sell their ugly overpriced Zords???
Well if they go belly up no worries. There always Gamestop to buy Legacy toys like the Inspace figures lol.
Keep reading: Toys R Us Weighs Bankruptcy Protection - Page 2
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