Close
 

Toys "R" Us goes into administration after failing to find a buyer

  • News
  • March 8, 2018
Toys "R" Us goes into administration after failing to find a buyer

In September last year Toys “R” Us filed for bankruptcy, now one of largest toy chains has gone into administration after failing to find a buyer.

There were high hopes for the buy-out of the toy giant, but the unlikelihood that the brand can pay back its $27.8 million debt has been hailed as the reason for its administration.

Yet the brand is still looking for a buyer, with joint administrator Simon Thomas saying they will make every effort to secure a potential buyer for all or part of the business.

"Whilst this process is likely to affect many Toys R Us staff, whether some or all of the stores will close remains to be decided."

The future of the brick and mortar stores remains uncertain, yet the online arm of the business will be closed immediately.

Toys “R” Us employees around 3,000 people and plans to close 26 stores globally in the next few months.

According to Bloomberg, the decision to close around 180 stores comes as a strategic plan by the company as, "part of a reorganization plan to emerge from its September bankruptcy."

The closures will begin next month, with Babies “R” Us locations accounting for at least half.

The chain has been operating at a loss seven out of the last eight financial years.

More details are due to surface as administrators continue to search for a buyer. 

This is a community discussion forum. Comment is free but please respect our rules:

  1. Don’t be abusive or use sweary type words
  2. Don’t break the law: libel, slander and defamatory comments are forbidden
  3. Don’t resort to name-calling, mean-spiritedness, or slagging off
  4. Don’t pretend to be someone else.

If we find you doing these things, your comments will be edited without recourse and you may be asked to go away and reconsider your actions.
We respect the right to free speech and anonymous comments. Don’t abuse the privilege.

 
 
 

Thankyou wants customers to fly its logo from a crane

  • News
  • June 18, 2018
  • Sarah Dunn
Thankyou wants customers to fly its logo from a crane

Australian social enterprise company Thankyou is newly launched in New Zealand with a strong narrative of charitable giving and a range of affordably-priced personal care products. But first, it wants customers to literally go above and beyond to promote it.

Read more
 
 
 
topics
Town centres
A positive retail environment over the past 12 ...
Amazon Arrival
Keeping up with all things Amazon as it ...
The Retail Yearbook 2017
As we battle our way through the busiest ...
Hospitality enhancing retail
Some think food and integrated hospitality offerings will ...
The future is bright
We spoke with four retailers in their twenties ...
Spotlight on signage
At first glance, the humble in-store sign might ...
How to open a store
Sarah Dunn considers what it would take to ...
Red Awards 2016
The Red Awards for retail interior design celebrate ...
Auckland Unitary Plan
Auckland is changing. The Unitary Plan will decide ...
Retail in heartland New Zealand
Retailers keep the regions pumping, but how strong ...
All things to all people
Kiwi retailers share their omnichannel strategies.
Rising stars
Retail's top young achievers.
Delivering on your promises
The sale isn't over until your item is ...
Sisterhood
Women in retail help one another. We spoke ...
The changing face of retail
Shifting demographics are creating big changes in New ...
The retail yearbook
With the help of experts in the retail ...
Retail rogues
We put the spotlight on staff training. Jai ...
Here come the giants
Topshop has arrived in Auckland’s CBD, David Jones ...
Loyalty in the digital age
How are retailers maintaining loyalty? Sarah Dunn, Elly ...
Window shopping: A spotlight on social media
Sarah Dunn and Elly Strang look at how ...
From retail to e-tail
Ecommerce has become part of the way mainstream ...
The Innovators | In partnership with Spark Business
Technology is rapidly changing the retail industry as ...
 
 
 
 

Get a glimpse of The Retail Hotlist 2018

  • News
  • June 15, 2018
  • The Register team
Get a glimpse of The Retail Hotlist 2018

New Zealand’s hottest retailers put on their party frocks and dancing shoes for The Register and NZ Retail’s first event, The Retail Hotlist, in June. We’ve now released the official video.

Read more
 
Next page
Results for
Topics
Jobs
About us.

The Register provides essential industry news and intelligence, updated daily. And the digital newsletter delivers the latest news to your inbox twice a week — for free!

©2009–2015 Tangible Media. All rights reserved.
Use of this site constitutes acceptance of our Privacy policy.

Advertise
The Register

editor@theregister.co.nz

Content marketing/advertising? Email anita@tangiblemedia.co.nz or call 022 639 3004

View Media Kit

}