END OF AN ERA: Toys R Us Closing Its Last Stores By Friday
Toys R Us is closing its last U.S. stores by Friday, the end of a chain known to generations of children and parents for its sprawling stores, brightly colored logo and Geoffrey the giraffe mascot.
But many of the children who happily sang the “I don’t wanna grow up, I’m a Toys R Us kid” jingle grew into busy parents who found shopping online more convenient. The company, which also owned the Babies R Us chain, was hobbled by $5 billion in debt after a leveraged buyout that left it unable to invest and keep up.
As the last of the U.S. stores close, more than 30,000 workers will be looking for work. Toys R Us’ troubles have also shaken some big toy makers like Mattel and Hasbro.
Customers who were still devoted will be looking elsewhere to shop. Retailers like Walmart and Target are expanding their toy aisles to fill the hole, while Party City is opening 50 pop-up toy shops this fall.
Toys R Us filed for Chapter 11 reorganization last fall and pledged to stay open, but had poor sales during the critical holiday season as customers and vendors shied away. In January, it announced plans to close about 180 stores, but then in March it said it would liquidate the rest of the 700-plus stores.
Will the Toys R Us name and mascot disappear forever? An auction for the company’s name, baby shower registry and various trademarks is set for late July. The 16-foot tall statue of Geoffrey the Giraffe that greeted visitors at Toys R Us headquarters in Wayne, New Jersey will be moved to a children’s hospital in the state.
Many long-time employees were hoping to retire at a place they called home.
“I’m never going to have a job like Toys R Us,” said long-time employee Patty Van Fossan, 54, from Boardroom, Ohio, who was among a group of workers at protests in New York, fighting for severance that they believe they are owed. “It was the best job I had. I was surrounded by children.”
IN THE LAST FEW YEARS WE HAVE SEEN VERY BIG SHOPS AND COMPANIES THAT STARTED WITH NOTHING AND BECAME VERY BIG, NOT JUST RICH GO DOWN TO NOTHING , ALSO JEWISH ORTHODOX PEOPLE GO UP AND DOWN . THIS IS VERY SAD, BUT EVERYTHING IN LIFE IS A LESSON FROM G-D.
THERE WAS A VERY RICH MAN , HE LEARNED IN MY GROUP, ABOUT TEN YEARS AGO HE WAS ON THE VERGE OF GOING BANKRUPT, ONE DAY I WAS TALKING WITH HIM , ABOUT HOW HE FEELS HE SAID TO ME , GABY I CAME TO THIS COUNTRY IN 1956 I ONLY HAD THE CLOTH ON MY BACK, G-D HELPED THEN, AND MY TEST NOW IS TO THANK G-D FOR THE YEARS HE GAVE ME.
I AM SURE THAT HIS BELIEVE IN G-D.HELPED HIM TO RECOVER.
IN THE LAST YEARS BEFORE THE MESSIAH COMES OUR TEST IN TO DAYS LIFE IS AS IS WRITTEN
" DO NOT RELY ON NOBLES, NOR ON A HUMAN BEING, FOR HE HOLDS NO SALVATION,"
AND THIS G-D IS SHOWING US WHEN BIG SHOPS GO BANKRUPT.