Toys “R” Us will be closing or selling all of its stores in the United States, according to CNN Money.
The mega-popular toy seller that has been open for over 70 years announced in March of 2018 that it will be liquidating all of its stores. Sadly, the fate of Toys “R” Us brings back familiar memories of the fall of Blockbuster. Retail stores, in general, have fallen victim to an ever-changing economy and Toys “R” Us is no different.
We all know what happened to Blockbuster. Newer methods of buying and watching movies have made the brick-and-mortar Blockbuster stores obsolete. While Toys “R” Us primarily sells toys and video games, other stores and services have made the toy chain no longer necessary. Stores like Walmart and Target provide a wide variety of toys, video games and so on. In addition to this, Walmart and Target also sell a lot of other things to consumers that go past the bounds of recreation. This isn’t even to mention that Walmart stores are practically everywhere and offer competitive prices that can edge out Toys “R” Us. Amazon has also made its mark over the years, making a huge dent in the nationwide sales of physical stores that specialize in selling particular items.
Toys “R” Us announced that it would be going into Chapter 11 bankruptcy back in 2017, according to Business Insider. The holiday season of 2017 became the ultimate test for Toys “R” Us’ future, but sadly, bad news was the only thing to come out of it. Per CNN Money, the holiday season didn’t benefit Toys “R” Us enough to keep the business afloat and no sellers have come to save the day. The billions in debt owed by Toys “R” Us have accelerated its decline.
Jessica Tyler of Business Insider ventured over to a Toys “R” Us in Yonkers, New York to examine the state of affairs in the store. At first, everything seemed to be running as normal. But according to Tyler, the further back in the store you go, the more depressing it gets. “The shelves only looked stocked because everything was spread out and pushed to the front. Small sale signs were next to nearly every item,” Taylor said.
I used to frequent my local Toys “R” Us as a child in Madison. Going over to that store always brought a smile to my face. In my juvenile mind, I fell under the impression that I was in heaven every time I walked through the sliding doors. The fact that I am now covering its demise speaks volumes about how depressing this story is.
But at the end of the day, the free market decides on who stays and who goes, which is only fair. It seems like there won’t be another generation of “Toys “R” Us” kids.
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