Founded in 1948, Toys “R” Us was one of the best American toy, clothing, video game, and baby product retailer for decades. But in recent years their sales comes to high drop down and company could not afford the loss, even they ended up with almost $5 billion bankrupt which lead Toy R us to close it stores. Toy R Us last day closing the store is June 29, 2018

In the 1990s, it was the biggest toy seller in the US, expanding rapidly as it pushed out smaller chains. But by 1998, things had changed, and Walmart began selling more toys than Toys R Us in the US. After that the emerging of Amazon the net profit came lower and lower for the Heavy giant which they never able to reverse.

When is the last day Toys “R” Us closes its remaining stores ?

Toy R Us closing their stores on June 29, 2018. This includes all the stores in United States and in Pueto Rico. For the last few month after theri first annoucement on closing the store (March 15) huge discount sale was happening to clear the stocks. But Toy R Us also mentioned that on June 30 they will finally close their doors.

Why Toy R us closing all stores in US?

After being no. 1 for so long, by 1998, things had changed, and Walmart began selling more toys than Toys R Us in the US. Toys R Us then launched a turnaround plan that ended with the chain seeking buyers. Bain Capital, Kohlberg Kravis Roberts, and Vornado Realty Trust together invested $1.3 billion in a $6.6 billion leveraged buyout in 2005, taking Toys R Us private. The company had essentially been purchased using its equity, with the help of the private-equity cash.

This rather helping make things worse, Toys R Us ended up paying $400 million payments on its debt each year. That means they could not make necessary changes on it’s business to live with changing world. Toys R Us blamed its poor holiday performance on Walmart, Target, and Amazon pricing their toys low enough that it couldn’t compete and make a profit.

Where is Toy R Us headquarters ?

Toy R us headquarters located in Wayne, New Jersey.

What will happen to Toy R Us employees ? What compensation Toy R Us employees will get ?

31,000 Toys ‘R’ Us employees across 700 location end up with No job and no severance after June 29, 2018.

Mass layoffs are usually softened with a severance package, but Toys “R” Us employees won’t get any because of bankruptcy laws. They will get benefits such as health insurance and matching 401(k) payments from the company.

Workers were promised 60 days pay, which is required under federal law, and they’ll receive that pay even if they don’t work the full two months. But some workers will be expected to keep working to wind down operations.

Atleast one hope for employees that the unemployment rate is at a 17-year low of 4.1%, and because it is so low, lots retailers are desperate to find workers.

Goodbye, Geoffrey: Toys R Us closing its last stores

On the last day before closing the stores the pic of Geoffrey the Giraffe saying good bye went viral Social Media.

Her photo of Geoffrey the Giraffe leaving got the most attention, receiving nearly 300,000 shares on Facebook. Many kids grew up watching Geoffrey the Giraffe in TV commercials. The iconic jingle “I don’t want to grow up, I’m a Toys “R” Us kid,” was engrained in many people’s minds. The store has made many countless peoples’ faces light up over the past 70 years.

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