Spending money can be such a satisfying feeling, especially when you’re young. Gathering all of your money to blow it all on toys were great times, and because of this, Toys “R” Us made for a really nostalgic store. However, upon hearing about the bankruptcy of the store on September 18th, it was both a shock and a bit sad. The charming and joyful store, that lit up the imaginations, is slowly fading away.
So, what happened to Toys “R” Us? Amazon simply happened. Ever since Amazon’s rise in popularity for online shopping, buying toys for children was made so much more efficiently than driving to the store. This was a major factor in Toy’s “R” Us’ bankruptcy. However, the company is trying to combat this by focusing more on their own online shopping market. It’s not Amazon’s fault, it’s mostly Toys “R” Us not being ahead of the competition.
Secondly, their biggest issue, they’re in major debt. Every year, the company is behind 400 million dollars in interests. To add to the fact that they’re even filing for bankruptcy just a few months from the holiday season really shows how badly the company is doing right now.
However, CEO Dave Brandon says: “The shops will carry on operating,” and claimed that, “Toys “R” Us is at the start of a brand new era. These are the right steps to ensure that Toys “R” Us continues in the future.”
So despite the horrible debt, this will be a new learning experience for the company; hopefully Toys “R” Us will be ensured to live on for our children’s generation of toys!