Saving Toys R Us would be a huge benefit to Larian’s MGA Entertainment, which, according to reports, sells nearly 20 percent of its products through the toy retail chain.
Advertisement
As the bankrupt toy retailer gets ready to shutter its remaining 735 U.S stores, customers eager for bargains flocked to stores Thursday.
But in recent years, the toy chain struggled to compete with growing retailers such as Walmart and Target.
Donna Kies and her daughter, Alex Sargent, drove about 40 minutes from Louisa to the Toys R Us store in Short Pump on Thursday hoping to find sales.
Joint administrator Simon Thomas said: “Whilst this process is likely to affect many Toys R Us staff, whether some or all of the stores will close remains to be decided”. Earlier this month, executives forecast low-single-digit growth in that metric for this coming year. On Thursday, about 20 hours after the campaign launched, more than 400 people had contributed to the GoFundMe account.
Check back with us, as we’ll have the latest updates on what’s happening next with Toys R Us’ liquidation sale. Larian promises to give you toys for life (though the fine print says he’ll ultimately decide what toys, and how many). Others were nostalgic for their own time spent at Toys R Us.
And they’re hoping the outpouring of affectionate nostalgia when Toys R Us announced its plans – #SaveToysRUs has been a trend on social media – translates into pledges toward their $1 billion goal.
The firm also announced plans to shut down its USA operations last week. The closing of the company’s 740 US stores will finalize the downfall of the chain and force toy makers and landlords to scramble for alternatives.
Signs posted inside both local stores asked shoppers for their patience and understanding.
“I think there is misinformation or a misunderstanding about the health of the retail industry”, said Kleinhenz, who is also principal and chief economist of Kleinhenz and Associates, a Cleveland-based registered investment advisory firm that specializes in financial consulting and wealth management services.
Advertisement
After Christmas, Toys “R” Us announced it was closing a few dozen stores, but Sterling was not included in that decision. At the height of its popularity, the children’s toy retailer had as many as 1,600 stores around the world.
