Thursday, March 15, 2018

129 | Toys 'R' Us will close or sell all US stores, March 15, 2018

Video time frame of 1:19, like 119.
Master plan = 119. All seeing eye = 119. Star of David = 119

Toys "R" Us is closing its doors after 70 years in business. It marks the end for a company that sold toys, bikes, video games and birthday presents to millions of American kids. For half a century, Geoffrey the mascot giraffe invited children to its giant playhouses. Legions of adults who came of age in the 1980s and 1990s can probably still whistle the jingle: "I'm a Toys 'R' Us kid."

 Yet Toys "R" Us fell victim to the strong currents pulling specialty retailers into oblivion. Walmart, Target and other big-box retailers — stores that offered aisles of toys and everything else, too — began to erode its dominance. And then the emergence of Amazon sped its demise.


The mascot of 'Toys 'R' Us' is a giraffe by the name of Geoffrey.
America also equals 129 in the Jewish cipher.

 In September, Toys "R" Us filed for bankruptcy, hoping to shed debt and reinvest in its stores. At the time, Toys "R" Us disclosed that it had about $5 billion in debt and was spending about $400 million a year just to service it.

The turnaround didn't work. In January, the company said it would close 182 stores across the United States.

Toys "R" Us will shut or sell all of its 735 stores in the United States, according to court documents filed early Thursday. About 31,000 workers in the United States will be laid off.

Toys "R" Us hasn't made a full-year profit since 2012 and has lost $2.5 billion since then. It reported a loss of $953 million in the first nine months of last year alone. Sales during the recent holiday period, which the company has yet to report, are believed to have been very bad.

The company was taken over by private equity giants KKR, Bain Capital and real estate investment company Vornado in 2005. Together they paid $6.6 billion, but saddled the company with $5.3 billion in debt.

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