Toys R Us To Liquidate

Tomax · 03-16-2018, 06:15 PM

Quote:

Originally Posted by deecee4

I was at one somewhere in Queens not too long ago that was shockingly very kmartesque...not sure what was going on there.

Queens! my birth place and also Spider-man's

Parademon1 · 03-16-2018, 06:28 PM

Quote:

Originally Posted by Tomax

Queens! my birth place and also Spider-man's

Pffft! Brooklyn, my birth place & also Captain America's.

Tomax · 03-16-2018, 06:49 PM

Quote:

Originally Posted by Parademon1

Pffft! Brooklyn, my birth place & also Captain America's.

kylactus · 03-16-2018, 07:56 PM

Quote:

Originally Posted by DarkToyLord

saw this on da internets

Wow, that’s the longest fuck you I've ever read. I love the “you are expected to continue working” line. If I were a store manager, Or any in store employee expecting a severance package, which they won’t recieve, I’ve gotta say, STEAL SOME SHIT NOW, ANYTHIG AND EVERYTHIG U CAN CARRY! They scuttled the ship do what ever you want now, morality is optional. I’d drag verything in the parking lot, throw up a cardboard sign that says “free toys” and sit back and enjoy the riot!

Dolemite · 03-16-2018, 08:08 PM

Seriously, I would rob the store blind if I worked at TRU right now. Everything would go out the back door.

kylactus · 03-16-2018, 08:19 PM

Hell yeah, and burn the building on the way out!

Sighphi · 03-17-2018, 09:40 AM

TRU just upped the free shipping from needing 29 to 49.

deecee4 · 03-17-2018, 09:53 AM

Quote:

Originally Posted by Tomax

Queens! my birth place and also Spider-man's

Yeah, Forest Hills, birth place to Spidey, The Ramones and Simon & Garfunkel

LordMudd · 03-17-2018, 11:48 AM

Quote:

Originally Posted by Dolemite

Then maybe try posting in another thread?

Or maybe the Legends people should whine in the Legends thread. We keep our whining in our thread.

and no, you cannot have any of our cheese either!

CCC.

NeilJam · 03-17-2018, 12:32 PM

Quote:

Originally Posted by SpasticPlastic

Stopped in today and about a third of the shelves were empty. Apparently vendors have been coming in since yesterday morning removing any stock that TRU hadn't yet paid for. Sounds like NECA, Hasbro, Funko, McFarlane, and Diamond Select will be completely gone by Tuesday. So..no big clearance sales to hit.

Many items in the collector aisle may disappear including NECA as those products are not part of TRU inventory.
Hasbro, Funko (Pops), and most McFarlane stuff should stick around.

Dr Kain · 03-17-2018, 01:53 PM

What do you mean they aren't part of TRU's invetory? If they are on the shelf, they should be.

Anyway, when to the sales start? I want to get a Switch when it's on sale.

LordMudd · 03-17-2018, 02:24 PM

Quote:

Originally Posted by Dr Kain

What do you mean they aren't part of TRU's invetory? If they are on the shelf, they should be.

Anyway, when to the sales start? I want to get a Switch when it's on sale.

Hasbro and Schleich are BOGO 40% now.

CCC.

NeilJam · 03-17-2018, 08:37 PM

Quote:

Originally Posted by Dr Kain

What do you mean they aren't part of TRU's invetory? If they are on the shelf, they should be.

Anyway, when to the sales start? I want to get a Switch when it's on sale.

When stores do inventory certain things are not included in that such as greeting cards, magazines, and some items in the collector aisle. These items are sold on consignment, meaning TRU pays the vendor for merchandise after it sells. Displays are maintained by reps who are not employees of TRU.

TRU has already paid manufacturers for most of the merchandise on the shelves including Hasbro, Mattel, Lego, and many others, so it won't be reclaimed by them. Now that TRU has missed payments to these vendors, future shipments of new merchandise from them to TRU will stop. TRU will still have stuff to clear from their distribution centers to ship to stores.

Snowflakian · 03-18-2018, 04:31 AM

Quote:

Originally Posted by Black Arbor

I really don't understand how a company can just say "sorry, no severance pay for you!" It seems like that's something the government would FORCE them to allocate assets to, right?

Unless there's no assets to allocate. That old "can't bleed a stone" and that's the issue, TRU has been driven to stone broke by debt. Even the higher ups aren't going to get anything at all out of this. The company itself will no longer exist to provide anything as of the termination date. Likely up to two weeks after the termination date as they will have to pay out final paychecks and stuff. (So the stores themselves may close within two weeks prior to that date as they ramp down assets etc. to pay out final compensations owed for time worked.)

Not that typical retail employees get severances anyway though. Unless you were higher up the management chain, you didn't really have much more than a paycheck from them. Typical retail severance is the unemployment line.

Quote:

Originally Posted by Dr Kain

Anyway, when to the sales start? I want to get a Switch when it's on sale.

Probably not until next month. But consoles will likely be the last things marked down if at all. Consoles are typically sold at cost, and that's the main issue here in revenue lost/losing money. So I wouldn't expect those to get marked down until the last weeks.

So while overstock and other lines will likely get marked down to remove them. Consoles might be a different issue entirely until they don't have a choice in needing to unload the inventory. Those are one of those things they might find a way to re-allocate to other avenues to avoid that massive of a loss on them because of their debts. Otherwise I expect the employees will get first crack at them on the discounted price because that's one of the few things the employee discounts never worked on. Games yes, consoles no.

Quote:

Originally Posted by kylactus

Wow, that’s the longest fuck you I've ever read. I love the “you are expected to continue working” line. If I were a store manager, Or any in store employee expecting a severance package, which they won’t recieve, I’ve gotta say, STEAL SOME SHIT NOW, ANYTHIG AND EVERYTHIG U CAN CARRY! They scuttled the ship do what ever you want now, morality is optional. I’d drag verything in the parking lot, throw up a cardboard sign that says “free toys” and sit back and enjoy the riot!

And you'd never get hired by any retail outlet or other job ever again by doing so. Final moments loyalty breeds sympathy from other outlets in looking for new jobs. It shows dedication to your job, and what they would want in their company. Showing that kind of disloyalty would cause other places to laugh at you for even trying to apply with them. It'd make for a great internet meme or story, but that doesn't pay bills at all. Plus you'd likely get arrested too.

That letter is typical for these kinds of situations. This isn't a normal company closing. This is a straight up forced into bankruptcy closing. Not by choice but because that is when the money will run out.

Still beats the Amanda Waller and KGB severance package style though.

Dr Kain · 03-18-2018, 08:21 AM

What the fucking hell?

https://www.usatoday.com/story/money...out/925447001/

How are these guys still allowed to get bonuses when they ran their company into the ground? Just another thing to show that you if you are rich, you are above the law. I hope these criminals die in a slow and painful car crash!

Dolemite · 03-18-2018, 08:28 AM

Quote:

Originally Posted by Dr Kain

What the fucking hell?

https://www.usatoday.com/story/money...out/925447001/

How are these guys still allowed to get bonuses when they ran their company into the ground? Just another thing to show that you if you are rich, you are above the law. I hope these criminals die in a slow and painful car crash!

While I share in your outrage, you're a little late to the party my friend. That happened last year, and it was widely bitched about at the time.

Still bullshit, though.

Quote:

Originally Posted by LordMudd

Or maybe the Legends people should whine in the Legends thread. We keep our whining in our thread.

and no, you cannot have any of our cheese either!

CCC.

Eh, I don't see Legends whining to the point that it's dominating the thread, and besides, it's relevant to the topic at hand. Have a heart, dude.

And what kinda cheese ya got over there?

LordMudd · 03-18-2018, 10:02 AM

Quote:

Originally Posted by Dolemite

And what kinda cheese ya got over there?

Check it out sometime. You might like it so much you never leave......

CCC.

Dolemite · 03-18-2018, 10:51 AM

Quote:

Originally Posted by LordMudd

Check it out sometime. You might like it so much you never leave......

CCC.

I just might do that!

Harbinger · 03-18-2018, 11:24 AM

Its limburger. Run!

juggernaut209 · 03-18-2018, 11:53 AM

One of my local stores was on the original list of closing stores long before liquidation was announced, and is still having their “store closing” sale. Banners say “everything up to 50% off” but most items, including all action figures, are still at 30% off. The final day is in April, if the rest are closing in mid May they should start their big markdowns any time now. Apparently there is an approval process for the going out of business sales that the bankruptcy court needs to grant, and that’s coming Tuesday.

LordMudd · 03-18-2018, 12:02 PM

Quote:

Originally Posted by juggernaut209

One of my local stores was on the original list of closing stores long before liquidation was announced, and is still having their “store closing” sale. The final day is in April, if the rest are closing in mid May they should start their big markdowns any time now. Banners say “everything up to 50% off” but most items, including all action figures, are still at 30% off.

If my math is right, that is better than BOGO 40%. Still early in the morning here.

CCC.

Nayt Navare · 03-19-2018, 09:05 AM

Y'all see this?

https://toynewsi.com/news.php?catid=1&itemid=30792

BlackRazor · 03-20-2018, 07:23 AM

I read K-Mart might benefit as a result of TRU going under, in a way I'm surprised K-Mart & Sears lasted longer because those 2 chains have been rumored to be going down for some time now.

Nayt Navare · 03-20-2018, 11:58 AM

New report says Amazon might pick up some of the retail locations for their own use.

BlackRazor · 03-20-2018, 01:09 PM

Quote:

Originally Posted by Nayt Navare

New report says Amazon might pick up some of the retail locations for their own use.

I hope that's the case, usually when a place closes that I like (Borders or Books a Million) they replace it with some store I don't care about - dollar store, paint shop or mattress store.

03-17-2018, 12:32 PM	#235
NeilJam Join Date: Oct 2008 Posts: 19	Quote: Originally Posted by SpasticPlastic Stopped in today and about a third of the shelves were empty. Apparently vendors have been coming in since yesterday morning removing any stock that TRU hadn't yet paid for. Sounds like NECA, Hasbro, Funko, McFarlane, and Diamond Select will be completely gone by Tuesday. So..no big clearance sales to hit. Many items in the collector aisle may disappear including NECA as those products are not part of TRU inventory. Hasbro, Funko (Pops), and most McFarlane stuff should stick around. Last edited by NeilJam; 03-17-2018 at 08:37 PM..

03-17-2018, 01:53 PM	#236
Dr Kain King of Nerdom Join Date: May 2012 Location: Melbourne FL Posts: 11,754	What do you mean they aren't part of TRU's invetory? If they are on the shelf, they should be. Anyway, when to the sales start? I want to get a Switch when it's on sale. __________________

03-18-2018, 04:31 AM	#239
Snowflakian Illyria's New Qwa'ha Xahn Join Date: Feb 2009 Location: In the clouds. Posts: 4,120	Quote: Originally Posted by Black Arbor I really don't understand how a company can just say "sorry, no severance pay for you!" It seems like that's something the government would FORCE them to allocate assets to, right? Unless there's no assets to allocate. That old "can't bleed a stone" and that's the issue, TRU has been driven to stone broke by debt. Even the higher ups aren't going to get anything at all out of this. The company itself will no longer exist to provide anything as of the termination date. Likely up to two weeks after the termination date as they will have to pay out final paychecks and stuff. (So the stores themselves may close within two weeks prior to that date as they ramp down assets etc. to pay out final compensations owed for time worked.) Not that typical retail employees get severances anyway though. Unless you were higher up the management chain, you didn't really have much more than a paycheck from them. Typical retail severance is the unemployment line. Quote: Originally Posted by Dr Kain Anyway, when to the sales start? I want to get a Switch when it's on sale. Probably not until next month. But consoles will likely be the last things marked down if at all. Consoles are typically sold at cost, and that's the main issue here in revenue lost/losing money. So I wouldn't expect those to get marked down until the last weeks. So while overstock and other lines will likely get marked down to remove them. Consoles might be a different issue entirely until they don't have a choice in needing to unload the inventory. Those are one of those things they might find a way to re-allocate to other avenues to avoid that massive of a loss on them because of their debts. Otherwise I expect the employees will get first crack at them on the discounted price because that's one of the few things the employee discounts never worked on. Games yes, consoles no. Quote: Originally Posted by kylactus Wow, that’s the longest fuck you I've ever read. I love the “you are expected to continue working” line. If I were a store manager, Or any in store employee expecting a severance package, which they won’t recieve, I’ve gotta say, STEAL SOME SHIT NOW, ANYTHIG AND EVERYTHIG U CAN CARRY! They scuttled the ship do what ever you want now, morality is optional. I’d drag verything in the parking lot, throw up a cardboard sign that says “free toys” and sit back and enjoy the riot! And you'd never get hired by any retail outlet or other job ever again by doing so. Final moments loyalty breeds sympathy from other outlets in looking for new jobs. It shows dedication to your job, and what they would want in their company. Showing that kind of disloyalty would cause other places to laugh at you for even trying to apply with them. It'd make for a great internet meme or story, but that doesn't pay bills at all. Plus you'd likely get arrested too. That letter is typical for these kinds of situations. This isn't a normal company closing. This is a straight up forced into bankruptcy closing. Not by choice but because that is when the money will run out. Still beats the Amanda Waller and KGB severance package style though. __________________ Last edited by Snowflakian; 03-18-2018 at 05:05 AM..

03-18-2018, 08:21 AM	#240
Dr Kain King of Nerdom Join Date: May 2012 Location: Melbourne FL Posts: 11,754	What the fucking hell? https://www.usatoday.com/story/money...out/925447001/ How are these guys still allowed to get bonuses when they ran their company into the ground? Just another thing to show that you if you are rich, you are above the law. I hope these criminals die in a slow and painful car crash! __________________ Last edited by Dr Kain; 03-18-2018 at 08:24 AM..

03-18-2018, 08:28 AM	#241
Dolemite Join Date: Nov 2014 Posts: 4,016	Quote: Originally Posted by Dr Kain What the fucking hell? https://www.usatoday.com/story/money...out/925447001/ How are these guys still allowed to get bonuses when they ran their company into the ground? Just another thing to show that you if you are rich, you are above the law. I hope these criminals die in a slow and painful car crash! While I share in your outrage, you're a little late to the party my friend. That happened last year, and it was widely bitched about at the time. Still bullshit, though. Quote: Originally Posted by LordMudd Or maybe the Legends people should whine in the Legends thread. We keep our whining in our thread. and no, you cannot have any of our cheese either! CCC. Eh, I don't see Legends whining to the point that it's dominating the thread, and besides, it's relevant to the topic at hand. Have a heart, dude. And what kinda cheese ya got over there? Last edited by Dolemite; 03-18-2018 at 08:31 AM..