Toys "R" Us - 50% scraps are all that's left

[exciter1]

20 minutes ago, Val-E said:

Has the internal combustion engine reached you yet?

My Lego store has a hitching post.

[Phil B]

My Lego store has a hitching post.

Not to beat a dead horse (see what I did there?) but I thought it was your KMart where the locals went to get hitched .....

[exciter1]

4 minutes ago, Phil B said:

9 minutes ago, exciter1 said:

My Lego store has a hitching post.

Not to beat a dead horse (see what I did there?) but I thought it was your KMart where the locals went to get hitched .....

Not anymore!

[cladner]

1 hour ago, exciter1 said:

I don't recall ever seeing Speed Champions in a Lego Store, but maybe I was never looking.

speed champions are one of the few things i ever buy in a lego store because its the only way to get mint boxes.

33 minutes ago, ravenb99 said:

You weren't looking

i never make it to any of the merlin stores - are speed champions stocked at legoland merlin?

 

[Ed Mack]

10 hours ago, donbee said:

“Toys R Us is nearing its resurrection, who will be its savior?”

There are already rumors of multiple large toy manufacturers working together to keep at least 200-400 stores open.  I hope so...

[Ed Mack]

I learned today that Walmart is the world's biggest toy seller and uses them as a loss leader.  I guess Amazon just put the nail in thee coffin.

[Bold-Arrow]

2 minutes ago, Ed Mack said:

I learned today that Walmart is the world's biggest toy seller and uses them as a loss leader.  I guess Amazon just put the nail in thee coffin.

Target and Walmart sell a lot of toys at a loss as they make up in the margins in other departments . TRU doesn’t have that luxury 

[ravenb99]

33 minutes ago, cladner said:

speed champions are one of the few things i ever buy in a lego store because its the only way to get mint boxes.

i never make it to any of the merlin stores - are speed champions stocked at legoland merlin?

 

Yes they are.  One of the best sellers so stock is usually good.  They get all store exclusives and can sell as they aren't under the same agreement as LEGO stores

[marcandre]

Mitt Romney is to blame not WM or AMZ. They are running at a slight profit without the crippling debt the Bain buyout dumped on them. 

http://www.joemygod.com/2018/03/15/mitt-romney-helped-kill-toys-r-us/

[Ed Mack]

16 minutes ago, marcandre said:

Mitt Romney is to blame not WM or AMZ. They are running at a slight profit without the crippling debt the Bain buyout dumped on them. 

http://www.joemygod.com/2018/03/15/mitt-romney-helped-kill-toys-r-us/

Yes, without the 5 billion in debt, they are profitable...What's a few billion between friends?

[Phil B]

Yes, without the 5 billion in debt, they are profitable...What's a few billion between friends?

Maybe they need to run a raffle?

[Average Guy]

So the stores that are not on the original two closing lists,  they are open today? Or are all 800 locations closed today?

[Ed Mack]

4 minutes ago, Phil B said:

5 minutes ago, Ed Mack said:

Yes, without the 5 billion in debt, they are profitable...What's a few billion between friends?

Maybe they need to run a raffle?

I would buy some tickets.  I always do.  You should see me a the St. Paul Beef and Beer with the gift baskets.  I put tickets in everything...even Barbie doll baskets.  I just want to win!  

[hockeyweasel]

They filed their liquidation plan with the court Wednesday night and are in court on Thursday.

[Thanos75]

I just heard from my local TRU manager. Said they got the word today that doors will be shut in 60 days. 

[MusiKyle]

8 minutes ago, Thanos75 said:

I just heard from my local TRU manager. Said they got the word today that doors will be shut in 60 days. 

I had also read that Toys R Us has enough money to cover payroll for employees for no less than 60 days, and that ties out with the amount of days you've noted.  I didn't think liquidation meant instant door closure anyway.  I suppose like many things in Finance and Accounting... "It Depends"...

Edited March 15, 2018 by MusiKyle

[Mark Twain]

USA Today reporting that TRU will honor gift cards for the next 30 days.


Sent from my iPhone using Brickpicker Forum

[exciter1]

9 minutes ago, MusiKyle said:

I had also read that Toys R Us has enough money to cover payroll for employees for no less than 60 days, and that ties out with the amount of days you've noted.  I didn't think liquidation meant instant door closure anyway.  I suppose like many things in Finance and Accounting... "It Depends"...

The workers may get paid by the liquidation company, which is often outsourced.

[BarryZola]

Sounds like you may get something similar to us lot over the pond. We've been on a max 25% discount offer in general for a few weeks, but now it's moved to 30% and LEGO has moved up slightly in the money off (was originally 10%). I can see the percentage just moving slightly up over the next couple of weeks until they have a final sale and it's first come first served to whoever has the biggest vans to cram whatever toys are left into, at some ridiculous bargains. Probably wrong though

P.S - Gonna be a bummer for people who are not available/at work when the final discounts drop.

[LegoWalker4]

https://www.cnbc.com/2018/03/15/toys-r-us-closing-bittersweet-for-kids-and-adults.html

I am sad that TRU is closing...

[MusiKyle]

Just stopped at my local store.  Manager said they also plan to be open 60 days.  Haven't been told of any specific discount or clearance plans.   The store was much more organised than usual and more open spaces on the floor.  The sound of shipping tape being pulled and ripped could be heard frequently coming from the stock room.  Few employees around otherwise and many looked to be fake busy to not have to help customers.  Probably tired of answering questions liquidation while considering their jobs.  As far as customers it was rather busy for the time of day and as previously guessed, soccer moms, a few college kids, some elderly... all expecting the non-existent garage sale.  It's definitely going to be hard to catch the deals if stuck at work.   There were more clearance piles of large items like car seats, strollers and the like. Handful of 20% off select lego but it seemed like a regular sale of select items.

[mtchrs]

20% off just takes their prices to everyone else’s normal price. No wonder they are sinking.

I had a look online and the bigger sets are RRP, they even have Taj, ninjago city, Saturn V.

I might pop down to my local store tonight and see what they have.

[Achilles]

41 minutes ago, MusiKyle said:

Just stopped at my local store.  Manager said they also plan to be open 60 days.  Haven't been told of any specific discount or clearance plans.   The store was much more organised than usual and more open spaces on the floor.  The sound of shipping tape being pulled and ripped could be heard frequently coming from the stock room.  Few employees around otherwise and many looked to be fake busy to not have to help customers.  Probably tired of answering questions liquidation while considering their jobs.  As far as customers it was rather busy for the time of day and as previously guessed, soccer moms, a few college kids, some elderly... all expecting the non-existent garage sale.  It's definitely going to be hard to catch the deals if stuck at work.   There were more clearance piles of large items like car seats, strollers and the like. Handful of 20% off select lego but it seemed like a regular sale of select items.

I had some rewards expiring, I stopped into a store. As people have said, official clearance starts NEXT Thursday I was told, and storewide discount will start at 10%. At some sort of intervals, they will increase. Since 60 days seems to be the target, I would guess perhaps every week the next drop down will happen. Nothing official yet. Oddly enough, the stores were busier today than I had seem them in a while. It looks like they hadn't gotten a whole lot of new stock lately to begin with (not surprising) and some things like certain displays and whatnot were already gone. 

Unsure the fate of the credit card, though I imagine they will stop the 10% off Thursday thing and rewards.

I used my rewards on a Nintendo Switch.

I am surprised there isn't more on this site about this whole topic, I think by and large this will probably be GOOD for resellers in the longer term, but it could impact people short term, as who knows how many people will pre-buy stuff this sale and not need as much this coming holiday season. But, who knows how it will impact the toy industry in general which is struggling - Hasbro and Mattel merging rumors continue, LEGO posted a loss. I wonder if Speed Champions will show up at other stores now. It's the thing I probably will be targeting most out of these upcoming clearance sales. 

I also wonder if it means more shoppers at the major retailers (Target/Walmart) meaning less stuff to scavenge for arbitrage. I wonder how it will impact LEGO's production in general. I think I read that TRU purchased 15-20% of LEGO products. This is not a negligible amount. 

All in all, I think this is a major development in the world of toys and toy arbitrage. Not sure how it will all play out yet.

 

[Sandwraith]

Toysrus Canada already stated they were not included in the US liquidation, but here's an email i just got from them, only a matter of time probably...

March 15, 2018

To our valued Canadian customers,

Toys “R” Us, Inc. announced the difficult decision to seek court approval in its Chapter 11 proceedings to wind-down its business operations in the United States. Our team members in Canada are very saddened to hear of this outcome and we are all keeping our U.S. colleagues in our thoughts during this very difficult time.

In Canada, all 82 stores remain open for business to serve you, our customers, honouring all our policies, warranties, Baby Registry, Gift Cards and RClub loyalty programs without change. We are taking the necessary steps to ensure the iconic Toys“R”Us and Babies“R”Us brands live on for many generations to come in Canada. 

Our team continues to work hard at strengthening our competitive position and making the improvements necessary to ensure that we have the products when, where and how you choose to shop with us. Our Canadian operations are continuing in the normal course and we continue to partner with the trend products you want from the brands that you trust. 

For the past 34 years, we have proudly served Canada as the trend authority in toy and baby and we remain the champions of play and trusted advisors helping people become parents. 

Thank you for choosing to say “yes” to shop and support Toys“R”Us and Babies“R”Us Canada! We are proud to continue to welcome you in Canada coast to coast in store and online at www.toysrus.ca and www.babiesrus.ca for all of your toy and baby needs. 

Melanie Teed-Murch, President
Toys“R”Us and Babies“R”Us Canada

[Mathew]

 

Interesting video.  I didn't watch all of it.  Wasn't sure to post it here or in the Star Wars thread.  There's definitely a crash happening.  Not sure if it's toys in general or the Star Wars brand itself.   As a side note, my boys are watching the original Toy Story tonight.   It was made back when storytelling and fun characters were a priority over gender politics and brand recycling.  

Edited March 15, 2018 by Mathew