With 70s years of providing the biggest toy central to the US, the days of countless action figure isles, doll counters and singing “I’m a Toys “R” Us kid” will be but a reminiscing memory as stores are closing down for the titan toy distributor Toys “R” Us.
CNN has announced its nearly 800 stores in America alone will either have to be shut down or sold to another company, leaving 33,000 jobs at a very disturbing tightrope. David Brandon, the company’s CEO, has notified employees earlier today according to The Wall Street Journal.
Money has been a very painful topic for the corporate numbers being crunched in. In 5 years, full-year profits have never been achieved and have lost $2.5 billion since, with almost $1 billion of it being from last year’s first three quarters. Even with seasonal alone, it has also been mentioned to be very underwhelming. With bankruptcy being filed, it has also been disclosed an additional $5 billion is still in need to be owed, even going as far as investing $400 million per year just to pay off said debt. Yikes.
Currently there is no word as to how much Toys “R” Us properties outside the USA will be affected.
And so another chapter door of nostalgic wonder closes its door. The world was shook when Blockbuster was taken down, HMV with its massive dues, and now the likes of a beloved toy store by many. Soon other forms of entertainment like movie theaters and circuses will have their day, leaving the once big attractions of the day deserted. More and more the world becomes a little less fun and the wonder, awe and meaningful entertainment are just scraping by. One thing is for certain: coming generations will certainly find the world a bit…boring.