Interesting video / opinion piece on why TRU declared bankruptcy.

 

A more annoying voice, there is not.

http://www.chicagotribune.com/business/ct-toymakers-toys-r-us-bankruptcy-panic-20170928-story.html

"In total, Toys R Us owes $7.5 billion to a group that includes virtually every major toymaker in the country: Mattel (owed $136 million), Hasbro ($59 million), Spin Master ($33 million), Lego ($32 million), Radio Flyer ($12 million), Crayola ($2.6 million)."

" A spokesman for Lego, which has been weathering its own financial troubles, said the company is "deeply engaged in ongoing dialogue" with Toys R Us as the companies try to figure out what's next. Others said they were consulting bankruptcy attorneys and financial advisers to sort out shipments — and payments — related to holiday inventory. VTech, the maker of electronic toys and tablets, says it expects holiday sales to Toys R Us "to decline." Meanwhile, a handful of smaller companies say they have already severed ties with the world's largest toy store chain. "

1 hour ago, jaisonline said:

"In total, Toys R Us owes $7.5 billion to a group that includes virtually every major toymaker in the country: Mattel (owed $136 million), Hasbro ($59 million), Spin Master ($33 million), Lego ($32 million), Radio Flyer ($12 million), Crayola ($2.6 million)."

Who proofread this article??? A simple math would tell you that the majority of the debt did not come from the toy manufacturers.   

Who proofread this article??? A simple math would tell you that the majority of the debt did not come from the toy manufacturers.   

To be fair, though, the article doesn’t say “majority” it said what their total debt is, and then focused on the meat that people want to know - what toy companies are owed.

It doesn’t make an interesting read to know TRU owes something like $3B to JP Morgan (I think), from loans. And I’m sure there’s a lot of real estate and shipping costs they owe, too.

Are they splitting hairs for eyeballs, though? No doubt they are.

TRU here seem to be trying to enter Chapter 11 equivalent too. Last week they screwed up their web pricing and had a few exclusives like Big Ben and DS at up to 70% off RRP, whereas Friends Grand Hotel got a DS price of 500 euros!

I don´t know how many people were able to take advantage of the mistake as most of the cheap stuff was sold out by the time I saw the prices.

I’m not sure how this helps the bottom line, except for a tax deduction.
https://m.toysrus.com/cobrand/services/price-match-guarantee

7 minutes ago, exciter1 said:

I’m not sure how this helps the bottom line, except for a tax deduction.
https://m.toysrus.com/cobrand/services/price-match-guarantee

Yep

Good riddance, TRU!

Had an interesting talk with a TRU manager today . Lego rolled out a new inniative since their sales are hurting big time . No more % off across a certain theme , just certain skus a week and need to be approved by Lego. No more coupons , rewards, etc across all chains/retailers . 

Disclaimer :

 

Had an interesting talk with a TRU manager today . Lego rolled out a new inniative since their sales are hurting big time . No more % off across a certain theme , just certain skus a week and need to be approved by Lego. No more coupons , rewards, etc across all chains/retailers . 
Disclaimer :
 

Did you have any discussion about the real problem?

2 hours ago, exciter1 said:

Did you have any discussion about the real problem?

lack of unicorns  ?

First step, removing limits of 2 for LEGO sets will be a start. Like what the heck? It just forces me to place multiple orders 2 and ends up costing TRU more on shipping than to let me place one or two orders.

Had an interesting talk with a TRU manager today . Lego rolled out a new inniative since their sales are hurting big time . No more % off across a certain theme , just certain skus a week and need to be approved by Lego. No more coupons , rewards, etc across all chains/retailers . 
Disclaimer :
 

hurting big time . “No more % off across a certain theme , just certain skus a week and need to be approved by Lego”

This just at TRU you think or all retailers as well?

3 minutes ago, Brickbuilder.g said:

hurting big time . “No more % off across a certain theme , just certain skus a week and need to be approved by Lego”

This just at TRU you think or all retailers as well?

He said all . Some document was sent out but he couldn’t share it with me . 

Good luck getting Walmart to comply with that request. Also, how do they expect to make room for the new LEGO sets if they don't blow out the old sets at 50-70% off? Price controls are not going to help LEGO boost their sales numbers.

 

1 minute ago, zskid00 said:

Good luck getting Walmart to comply with that request. Also, how do they expect to make room for the new LEGO sets if they don't blow out the old sets at 50-70% off?

Agreed, I’m not totally on board with what he said , but he never lied to me before . I mean amazon still have a lot of sets discounted . We shall see in the next few weeks/months . 

Good luck getting Walmart to comply with that request. Also, how do they expect to make room for the new LEGO sets if they don't blow out the old sets at 50-70% off? Price controls are not going to help LEGO boost their sales numbers.
 

Walmart doesn't do % off sales on themes though, just clearance. I don't think they can dictate what Walmart puts on clearance.

Mods can change thread title to 'LEGO is nearing its end these 3 signs reveal'

 

Yeah some of the same type discounts are around. But, I feel like ninjago sets are discounted less than tlbm was when it was first brought out. Also, rogue one sets were discounted right away like 20%. New sw sets are full retail or small discounts. Seems like sales are less in general. When was last time target had a sale? Just observations.

Dear Valued Customer,

As you may know, in September we announced that we were beginning a formal process – known as Chapter 11 – designed to strengthen our financial position and allow us to reinvest in our business. This was a proactive and voluntary move that gives us the opportunity to reset and do the things necessary to continue to earn your business now and well into the future. 

I’m writing today because I want to assure you that you can continue to shop with us with confidence, in store or online. Your local Toys"R"Us and Babies"R"Us stores are open and our team members are standing by ready to help. You should also know that we are continuing to honor our various customer programs including Registry, Endless Earnings, Geoffrey's Birthday Club, gift cards and warranties. 

With the holidays just around the corner, we have a number of exciting things in store for you: 

• Price Match Promise¹ – If you find a toy or baby product at a lower price at one of our competitors, Toys"R"Us will match the price. Not only will we match competitor’s prices in store, we’ll donate an additional $1 to Toys for Tots every time you price match now thru 12/24, up to $1 million.

• Parents Night Out² – As a parent, I found it was always tough to find time to shop when the kids weren’t looking, so this year Toys"R"Us is hosting special events on Sunday, November 12 and Thursday, November 30 from 8-10pmlocal time. During these very special events, customers will have access to a shopping expert, hot toy demonstrations, games and treats (think hot chocolate bar, raffles and more) plus a sweepstakes where Rewards"R"Us members have a chance to win a trip for 4 to New York City.

• Layaway and Then Some³ – We will once again offer free layaway services this holiday season, waiving the usual fee. Plus, every single day from Sunday, November 5, through Saturday, December 9, Toys"R"Us will select one layaway customer who will receive a $200 TRU gift card to put towards their layaway.

• Play Lab – I have seven grandkids who would love nothing more than to visit one of our stores to test drive the newest toys. On Sunday, November 1, forty-two Toys"R"Us locations across the country will open designated play spaces in their stores. Shopping list meets play time. 

• Play Chaser™ – Our new augmented reality gaming app is turning our toy stores into an interactive playground. It’s also connected to our much-awaited holiday catalog, The Ultimate Guide to Play. Kids can now build their favorites list using the app. 

These are just a few of the exciting changes I’m most excited for this holiday. No matter how you choose to shop with us, know that you can continue to count on us for an outstanding experience. We have been in the business of bringing joy to kids for nearly seven decades, and we welcome the opportunity to serve you this holiday season and long into the future.  


Sincerely, 

I guess it was inevitable.  I can think of one store of the three in my area that will probably be on the store closing list:

https://www.msn.com/en-us/money/companies/toys-‘r’-us-is-said-to-consider-closing-at-least-100-stores/ar-BBGZhVb

It almost seemed like TRU took on more sales opportunities this season from any in the past that I can remember.

But I guess too little, too late. 

They already shut down a couple of stores around me , one more and I might have to move to Ex1 fantasyland