Tuesday, 16 October 2018
Latest news
Main » NPD: Toys "R" Us closures will not tank the industry

NPD: Toys "R" Us closures will not tank the industry

22 March 2018

Strategic Marks bought the KB Toys brand from Bain Capital in 2016.

"My assumption is that there's about half a billion dollars worth of toys that have been produced for Toys "R" Us with no place to go", said Strategic Marks president Ellia Kassoff, in a phone interview with CNNMoney.

Toys R Us also announced that it is pursuing a reorganization and a sale process for its Canadian and worldwide operations in Asia and Central Europe, including Germany, Austria and Switzerland.

"We are grateful for the hard work of Toys R Us staff during this very difficult period".

That's about how much in sales Toys R Us would leave on the table if it were to close all of its USA stores.

Saudi crown prince to meet with Trump amid marathon US tour
President Trump offered what many are describing as "embarrassing" welcome to Saudi Prince Mohamed bin Salman in the White House on Tuesday .

"After it became clear that we would not be able to secure a buyer for the business, one of the major initial tasks was to transfer all of the remaining stock to the stores".

Toys "R" Us announced earlier in March that it was going out of business, which would affect close to 30,000 employees, according to the Deseret News. The teen jewelry and accessories giant Claire's is another retail giant that has succumbed to financial troubles, declaring bankruptcy and announcing the closure of over 90 stores around the country.

The company had filed for bankruptcy last fall. The retailer blamed high debt levels and intense competition with online retailers. "Also, if you're making a purchase, understand it's a final sale".

When Call 12 for Action contacted the North Attleboro and Warwick locations, associates said liquidation sales are expected to start Thursday.

NPD: Toys