Title: Going Out of Business – Toys “R” Us | The Connectere
Headings: Going Out of Business – Toys “R” Us
Going Out of Business – Toys “R” Us
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Content: As the name suggests, it was known for its endless supply of the latest toys and expensive catalogues. Throughout its 70 years in business, the company expanded its 1,600 stores worldwide and eventually became a massive big-box chain and a symbol of American retail. It spread out to dominate the toy industry and pushed competitors out of business through radio and television marketing. No one had ever seen anything like this. The company also had a huge flagship store in Times Square which remained open for 24 hours to cater to tourists who yearned to place a hand on Toys “R” Us’ shelves. At times, its stores remained open for 88 hours straight just before Christmas. But this chain of megastores, weighed down by nearly $5 billion in debt, filed for bankruptcy in 2017. It was the end of the store that once held a lock on the entire toy industry and made toy shopping, once a seasonal treat, into a regular family outing. In 1998, Walmart began selling more toys in the US. Was this the beginning of the end?