Toys "R" Us shutting U.S. stores, liquidating inventory

https://www.msn.com/en-us/money/companies/toys-r-us-shutting-us-stores-liquidating-inventory/ar-BBKeJlC

Another retail bites the dust...

That store pretty much sucked anyway. Disorderly, dirty, and overpriced.

Bankrupt Toys ‘R’ Us is closing all US and UK stores

https://www.yahoo.com/news/bankrupt-toys-r-us-closing-114000276.html

Believe it or not, you can thank Mitt Romney for killing ToysRUs.

http://money.cnn.com/2018/03/15/news/companies/toys-r-us-closing-blame/index.html

StillAnon Wrote:
-------------------------------------------------------
> Believe it or not, you can thank Mitt Romney for
> killing ToysRUs.
>
> http://money.cnn.com/2018/03/15/news/companies/toy
> s-r-us-closing-blame/index.html

Mitt isn't mentioned anywhere in this article. How exactly do you associate him with A) article? And B) Toys R'Us closings?

How did Mitt single handedly take down a retail giant?

Gee, Amyjo, maybe it's because I read and know about subjects so not to make inane posts (there's a suggestion there, someplace).
Bain Capital was founded by Romney and a bane to his Presidential run. He also BK'd Sports Authority and KB Toys. There's a reason they call the "Vulture Capitalists".

https://nypost.com/2017/09/21/bain-capital-has-now-plunged-two-toy-retailers-into-bankruptcy/

So you're saying that Mitt Romney took down Toys R'Us during what time span?

I don't see it anywhere in your links. It sounds like hyperbole to me.

Blame big business maybe, and a competitive marketplace?

It's a stretch to blame it on one man.

You still haven't provided anything to support your claim for your supposition.

The last article you linked to said this about the Bain link to Toys R'Us:

"At Toys ‘R’ Us, however, Bain and its co-investors, KKR and Vornado Realty, never took a dividend as they watched the value of their $1.28 billion equity stake in the $6.6 billion, debt-fueled buyout go to zero in this week’s Chapter 11 filing.

That’s partly because the private-equity firms underestimated the chain’s profit outlook when they bought it in 2005, soon finding that relentless price pressure in toys was sapping the company’s ability to run its business.

A key question after the holidays will be how many of Toys ‘R’ Us’ 879 US stores will be shuttered in the restructuring, a lawyer in the bankruptcy process told The Post.

At a court hearing this week, Toys ‘R’ Us “signaled they did not spend enough money on their stores,” the lawyer said."

It doesn't say anywhere in it that because Mitt helped to fund part of its assets he was responsible for bringing down the house. Nor was Bain Capital.

They took a bath on it too.



Edited 1 time(s). Last edit at 03/16/2018 10:02AM by Amyjo.

"“The owners look as though they decided to bleed Toys ‘R’ Us instead of keeping them relevant,” Brian Devine, who was a top executive at Toys ‘R’ Us in the 1980s, told The Post."

"At a court hearing this week, Toys ‘R’ Us “signaled they did not spend enough money on their stores,” the lawyer said."

Yeah- believe Bain's lawyer Amyjo. I'm sure he's telling the truth.

It's going to hit the toy industry hard, so it might not be just Toys "R" Us employees being laid off. To bring this back on topic about Mormonism, TSCC is also going to be hit through less tithing $$$.



Edited 1 time(s). Last edit at 03/15/2018 10:52PM by doyle18.

The Toys "R" Us located closest to me has always been clean and well-maintained. When my niece and nephew were young, I often got their presents there. I liked the store's extensive collection. Having recently shopped for board games at Wal-Mart, I was underwhelmed. The selection was skimpy by comparison.

But times change and certain stores or store models fail because they are no longer suited to a given economy (and/or they are poorly managed.) When I visited my local mall this week I noticed that there is no longer a ticket window for the movies. Most people who go there now get their tickets from a kiosk. Those that don't get the tickets from the concierge.

The book store chain Borders failed many years ago. I loved that store. But the chain was poorly managed.

The loss of certain stores can be upsetting, but new ones do pop up. I enjoy brick-and-mortar stores, and I hope that most of them can survive.

The one in my neighborhood hasn't begun marking down its merchandise yet to liquidate it. It seems overpriced at the moment to get ready for what's to come.

It was full yesterday because of the news. Before that it was usually empty most of the time.

Never in a million gazillion years.

We're enshrined in it. Communism decided that wealth isn't so bad either, hence its oligarchs.

It's a global economy whether we like it or not. Capitalism is without borders.

I don't wanna grow up,
I'm a mormon kid.
They got a million tokens in the temple
that I can play with!

From gold plates to angels
to flaming swords,
it's the greatest toy religion there is!

I don't wanna grow up,
'cause maybe if I did...

I wouldn't be an ignorant mormon kid.

Awesome!