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Old 09-20-2017, 07:28 AM
 
1,139 posts, read 3,467,645 times
Reputation: 799

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Toys R Us declared bankruptcy yesterday. If you have unused gift-cards, please use them ASAP, preferably TODAY.

https://www.reuters.com/article/us-t...-idUSKCN1BT2AV

Am unable to find their gift card policy on their website during bankruptcy but if it's like RadioShack then, your gift cards value =$0 the day they declare bankrupty and hence, worthless.

As usual, company was very profitable - hedge funds took them private, loaded them with debt and paid themselves and now company is unable to make $400 million annual interest payment on $5 Billion loan.

For those who think Amazon was the reason, read the bankruptcy filings.

Quote:
The Chapter 11 filing by the biggest U.S. toy store chain, to restructure $5 billion of long-term debt,
Quote:
Toys ‘R’ Us is saddled with debt from a $6.6-billion buyout in 2005, led by KKR & Co LP (KKR.N) and Bain Capital LP, together with real estate investment trust Vornado Realty Trust (VNO.N).
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Old 09-20-2017, 11:51 AM
 
Location: Tampa, FL
27,798 posts, read 32,455,798 times
Reputation: 14611
You think Amazon didn't help?
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Old 09-20-2017, 11:54 AM
 
Location: Tampa, FL
27,798 posts, read 32,455,798 times
Reputation: 14611
Here's how Amazon may have led to Toys "R" Us' demise - Business Insider


Wonder where the next brick and mortar failure will come from. They are falling by the wayside.....]

Last edited by BucFan; 09-20-2017 at 12:39 PM..
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Old 09-20-2017, 12:34 PM
 
Location: -"`-._,-'"`-._, ☀ Sunny Florida ☀ ,-"`-._,-'"`-.
1,357 posts, read 1,243,604 times
Reputation: 1324
It's more like ToysRWho.... ToysRUs fell by the wayside back in 1990's, can't blame it on Amazon. Walmart, Target and others took them to the woodshed Strangely, Amazon is opening B&M stores, so draw own conclusions on if it's B&M or old management practices that are falling by the wayside.
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