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: 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? Or perhaps it was when the company was bought out by private equity firms in 2005? Now, let us find out why did Toys “R” Us fail? The undercutting of prices by Walmart in 1998 served as a sign for trouble ahead. At one point, Toys “R” Us was considered as the most important toy store in the world. But even with its first-rate toys and hundreds of stores, it could not keep up when faced with competition from retailers like Walmart, Target and most importantly, Amazon.