Skip to main content
  1. Home
  2. Business
  3. News

Toys Were Us? Toys R Us reportedly closing all 800 U.S. stores

Mike Flacy
By
Toys R Us Store
Image used with permission by copyright holder

Due to billions of dollars of debt, iconic toy retailer Toys R Us is reportedly planning to sell or close all 800 locations within the United States. As reported by the Wall Street Journal, this move is taking place on the heels of announcing closure of all 100 retail locations within the United Kingdom as well as a previous attempt to only shut down one fifth of U.S. locations in January. The company expects store closures to happen over an extended period of time rather than  all at once and the move will include all Babies R Us locations.

Closure of all locations in the United States would lead to the loss of 33,000 jobs. However, the company is studying a proposal that will allow the retailer to continue operating at roughly 200 locations in the United States. This would require the retailer to sell off the Canadian side of the business (82 stores) along with 25 percent of the most profitable U.S. locations to a new buyer.

Recommended Videos

While crippling debt taken on during a 2005 buyout led the company to this precipice, Toys R Us was also extremely late to invest in ecommerce. As the company’s senior management admitted in an interview last year, Toys R Us was about a decade behind in ecommerce investment when compared to retailers like Amazon, Target, and Walmart.

Toys R Us also missed other opportunities in the digital space, choosing to invest in a custom in-store augmented reality game rather than partnering with more established apps like Pokémon Go. Toys R Us could have had an entirely new generation of kids wandering the aisles searching for Pokémon while also checking out the latest toys. Roughly six years ago, the company tried a similar strategy releasing an in-house tablet called the Tabeo, which failed in comparison to more successful tablets from LeapFrog and Amazon’s tablet offerings.

Over the last several years, Toys R Us has struggled to offer discounts found at big-box competitors like Walmart as well as compete with activities found at small, niche toy stores around the country. It’s arguable the toy retailer peaked decades ago when the iconic “I don’t wanna grow up, I’m a Toys R Us kid,” jingle was blasting on the airwaves and kids would easily recognize the company mascot, Geoffrey the Giraffe.

Editors' Recommendations

Topics
Mike Flacy
Mike Flacy
Contributing Editor
By day, I'm the content and social media manager for High-Def Digest, Steve's Digicams and The CheckOut on Ben's Bargains…
Find exceptional talent: the best hiring platforms for small businesses
For hire sign used by small businesses on hiring platforms to find top-tier talent.

This content was produced in partnership with ZipRecruiter.
Without the right talent or the right people rather, no business could thrive, big or small. But finding top talent is extremely crucial for small businesses, especially when it comes to remaining competitive in today's market. Smaller operations generally have limited resources, so it's necessary to improve productivity and efficiency wherever possible, which is precisely where securing good talent comes into the picture. But how do you find those people? The answer is via hiring platforms a la ZipRecruiter. They not only bring in the talent but also help you better understand the people, their work histories, and their overall expertise. Moreover, they help streamline the hiring process making it easier to find relevant candidates.

In light of that, here are the seven best hiring platforms for small businesses that can help you secure a competitive edge with top-tier talent:

Read more
Need Help? These Are the Best places to hire people online
ZipRecruiter Job Board Lifestyle Post

This content was produced in partnership with ZipRecruiter.
Hiring the right people is a crucial part of developing your business. The best person for the job will be one that shares your vision, is highly responsible, appropriately skilled, and is an efficient worker. You know what you want from your next employee but what do you do when it comes to finding that person? With many different sources out there for finding the best way to hire employees, we've picked out the best places to hire people online including ways to find employees online fast or for a long-term commitment. There are dozens of sites available but it's important to pick the best outlet for the task, so you can spend less time on your recruitment drive and more time interviewing the best candidates for the job. Take a look below at the best places to hire people online.
ZipRecruiter

One of the most reliable names in the job posting world, ZipRecruiter is a great way of finding staff and quickly. It aims to make the hiring process as smooth as possible. It works by connecting to more than 100 job boards so the moment you create a job listing for your firm, ZipRecruiter posts it across the huge network so you're casting the net as wide as possible without having to manually create job listings at numerous sources.

Read more
The best 17-inch laptop bags and backpacks for 2023
Close up view of a zipper on an Asus ROG Nomad V2 backpack.

You need a bag to safely transport your laptop with you to work or school, but not all laptop bags are created equal. Some bags aren’t robust enough to carry heavier models or large enough to carry your charger and extra supplies. Some bags come at an affordable price, while other options are more of an investment.

Whether you’re in search of a sleek briefcase or a tricked-out gaming backpack, skip the guesswork and read on to find out the best ways to carry your laptop in 2023.

Read more