Toys ‘R’ Us To Close 180 Stores Nationwide

Toys ‘R’ Us filed for bankruptcy back in September. I remember the good ol’ days. As a kid, Toys ‘R’ Us was the most glorious place on earth. I used to stare at the Polly Pockets, Bratz and “scooter girl” dolls with a deep sense of admiration. I wanted them all. (Not to brag, but I had a pretty solid collection.)

These days, kids are less interested in dolls and more interested in technology. It’s just the way it is. And with Amazon at our fingertips, it’s so easy to do a quick price check and order the same thing online for less money. I tend to do that myself. It’s a real problem for brick-and-mortar stores like Toys ‘R’ Us.

All that being said, the company is closing about 180 stores across the US.

Hobbled by $5 billion in debt, the company that once dominated toy sales in the U.S. filed for bankruptcy protection in September.

Chairman and CEO Dave Brandon said in a letter Wednesday that tough decisions are required to save Toys R Us.

Toys R Us operates about 900 stores in the U.S.

The store closings will begin in February and the majority of the targeted locations will go dark by mid-April. At some other locations, the retailer is combining its Toys R Us and Babies R Us stores.

“As the leader of this company, I want you to know that we can and will address the gaps in the experience that you may have had when shopping this holiday,” the company’s CEO said. “My team is already hard at work to make the improvements necessary to ensure that we have the products you want, when, where and how you want them.”

While Toys ‘R’ Us makes up about 20 percent of all toy purchases in the US, it can’t continue to compete as is. Hence the store closures.

That pressure will force the company to take a close look at all of its stores, and more will likely be shuttered over the next year or two, Wissink said.

Toys R US isn’t alone. About three dozen retailers sought bankruptcy protection last year due in large part to a radical shift in consumer behavior, both in where they shop, and what they buy. Some of the retailers that have gone under have been small, but there are also big names on the list, like Payless Shoe Source, Gymboree Corp. and True Religion jeans.

Predictably, people are blaming the “Trump economy.”

Crowing about imaginary "Jobs, Jobs, Jobs" while Toys R Us is closing 180 US locations, costing THOUSANDS of jobs, jobs, jobs?

You need to shut the hell up, and focus on your upcoming Mueller interview, and your next job pressing license plates.#WednesdayWisdom https://t.co/fKeHtPozcn

— BrooklynDad_Defiant! (@mmpadellan) January 24, 2018

Apparently, these people have no idea how competition in a vastly changing retail landscape works.

Toys R Us trying to avoid bankruptcy by closing 180 stores has likely 100% to do with Amazon and online shopping soaring versus Trump. Any toys in the past 5 years I’ve bought for my kids have been online, even if we went to Toys R Us to look at it first. #WednesdayWisdom

— Anti-Resistance Nate Dog (@HuevosDeChivo) January 24, 2018

I’m willing to bet that’s the case for a lot of people.

Dear Mr. Trump, please explain to the all of the Toys R Us employees who work at the 180 stores that are being shutdown, just how beneficial your Presidency has been for the working class family. Please explain to them why you are trying to take healthcare from their children.

— Ed Krassenstein (@EdKrassen) January 24, 2018

Well, when someone runs a business POORLY, or doesn't change with the markets, this is what happens Eddie. That is the fault of Toys R Us, not the President. Some "entrepreneur" I thought you understood business.

— TheDeplorableOne (@proudeplorabl1) January 24, 2018

Bingo.

Toys R Us, hobbled by competition, will shutter some stores https://t.co/BdQx2EE9bn pic.twitter.com/sOVKuMfE8a

— Social In Okla City (@SocialNOklaCity) January 24, 2018

Idiots who don’t understand the truth about the retail landscape, being stupid enough to blame this presidential admin for the closure of the Toys ‘R’ Us stores, has me triggered.

— ⚔️Dixie⚔️Spice⚔️ (@spice_dixie) January 24, 2018

Real Talk:

Toys R Us stores shutting down is not surprising news. With mega giant companies, like Amazon, that can ship products to you with ease, we have a changing economy that's moving away from physical retail stores.#WednesdayWisdom

— #ThePersistence (@ScottPresler) January 24, 2018

That’s all it really comes down to.

You can find the full list of store closures here.

h/t Fox Business