Business Failures

[Ragnarök_62]

(09-19-2017, 12:27 PM)pbrower2a Wrote:

Quote:One of the biggest names in brick-and-mortar retail has filed for bankruptcy protection.

Toys R Us, which has some 1,600 Toys R Us and Babies R Us stores around the world, filed for Chapter 11 in a Virginia court late Monday over $5 billion in long-term debt. The company said the debt had prevented it from investing to compete in what it called “an increasingly challenging and rapidly changing retail marketplace worldwide.”

Toys R Us plans to continue to honor gift cards, rewards points, warranties and return policies. It also said all of its stores would operate “as usual.” However, that may not last.  

Underperforming stores will close, The Wall Street Journal reported, and those that remain open may be reconfigured to include “experience-based” elements such as play areas.

There was no word yet on how the moves would affect the company’s nearly 65,000 employees.

http://www.huffingtonpost.com/entry/toys...mg00000009

Demographics may be killing the toy business -- fewer children. Toys that used to be expensive are cheap, especially if they have electronic bases. The business is ferociously competitive, as shown by prior bankruptcies of Kay Bee Toys.

I'm also guessing that children are no longer showing as much attention to 'status symbols'. It is also telling that Toys 'R' Us goes out of business about as the last Millennial kids are in the toy 'market'.

And... A place on teh interwebs came up with this:    http://www.zerohedge.com/news/2017-09-20...o-explains

Tidbits:



Reason number 1: Peter Pan syndrome in the C suites:



2. This has to be an org chart to optimize tax savings at the expense of knowing what is really going on.


3. Remember Mitt Romney?   His hedge fund was one of the blood sucking parasites the levered this baby up. I have more respect for ticks than folks like Romney.