According to Reuters news agency London on March 14, Toys R Us joint management said earlier on the 14th that because they could not find a buyer to buy all or part of the business, the remaining 75 chain stores in the UK will be closed within 6 weeks. This will cause about 3,000 people to lose their jobs.
According to the report, the person familiar with the reluctance to disclose his name when talking about secret negotiations said that creditors have determined that they can profit more from the assets of the clearing company than to find a way out for the biggest toy seller in the United States to survive.
According to reports, Toys R Us plans to close the store in the next few months, which is a blow to several generations of consumers and hundreds of toy manufacturers selling products in the Toys R Us chain.
According to the report, Toys R Us has been struggling to pay off debts in the context of consumers shopping on Amazon's e-commerce platform and children's choice of electronic products rather than toys. These debts came from private equity firms Kohlberg-Clavis-Roberts and Bain Investments and Werner Real Estate Investment in 2005 for a $6.6 billion leveraged buyout of Toys R Us.
According to the US "Washington Post" website reported on March 14th, in 1948, 25-year-old Charles Lazarus opened a "Children's Products Special City" in Washington, and later Lazarus abandoned the baby furniture business. Do a toy business. His store was renamed several times and was finally named "Toy R Us". Lazarus once said to the Washington Post: "We are building a toy supermarket. We have no competitors in the richness of the variety. No one."
Of course, there were still a lot of competitors, including Target, Costco, Wal-Mart and Amazon, forcing Toys R Us to announce the closure of all stores in the United States on the 14th.
According to the report, a retail analyst told the Washington Post in 1982: "I think Toys R Us is a unique company - as the only concept innovator to compete with International Business Machines (IBM). Holding business companies. Their outstanding control and information systems are unmatched in the industry."
According to the report, but in the 1990s, as other chain stores were involved in the toy and video game business, Lazarus lost control of the iron fist of the toy. He retired in 1994, seeing the company trying to regroup, refocus, realign (these are all inevitable pop-ups about the recession) and eventually sold it to private equity firms.
A Toy R Us store in Coventry, England, hangs the "closed door" logo. (Reuters)
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