Toys 'R' Us said to miss vendor payments

Mae Love
March 14, 2018

Although Toys "R" Us first filed for bankruptcy back in September of a year ago, it wasn't until after the holiday season that the company's true struggle became apparent.

The company later announced plans to close around 182 of its stores. Now Toys "R" Us and other category killers like the now-defunct Sports Authority, Borders and Circuit City, are being upended by online retailers. "They said with liquidation, they can't do any returns or exchanges", Mancini said.

A spokesperson said in January that Toys R Us stores average 25 full-time and part-time employees per store, which means close to 700 jobs could be lost in the area if Toys R Us shuts down the nine stores previously slated for closure and the remaining 19 stores. Unfortunately the axe has dropped quickly in the past week and now it looks grim for the beloved toy store that we all grew up with. The toy store giant and its companion stores Babies "R" Us could all shut down by this week, according to published reports.

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The bleak situation lends evidence to the notion that Toys R Us is moving toward winding down its USA operations for good.

A survey of about 850 independent retailers by the firm Advocates for Independent Business found that small retailers believe their "smaller size and greater understanding of their local markets" makes them more nimble than chains like Toys R Us and better at responding to shifts in the retail industry. Now toy companies will have to battle with the big-box stores like WalMart and Target for the much valued and limited shelf space inside their stores and count on Amazon for their sales.

"To our loyal customers: We've seen an awesome outpouring of love and support in recent days and we truly appreciate it", the company tweeted Friday.

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