Toys “R” Us, a retailer of toys, baby products and clothing; It was once the dream of all children. So what happened next and they went bankrupt?
Toys “R” Us was a beloved toy store chain around the world. You could find it in any shopping mall in Turkey. It had nearly 2000 stores and it was one of the most exciting places for children.
How did such a big and popular brand come to the point of bankruptcy? After giving some space to its birth period of collapse Let’s explain.
Founded in Washington, Toys “R” Us dates back to 1948.
II. Charles Lazarus, who saw birth rates rise after World War II, He immediately recognized the gap in the market But the first step he took wasn’t a toy store.
He opened a baby furniture store. It was impossible not to see customers’ demands for toys. Thereupon, he expanded the store and started selling toys for children. In 1957, Toys “R” Us store opened.
If you remember, there was an incredible range of products.
Families were having an interactive and fun shopping experience in the store, which had thousands of different products. The brand had gone international in the 1980s and 1990s. It was expanding and expanding. Even in Turkey It’s in almost every shopping mall You will remember.
However, in the late 2000s and 2010s, the brand; faced various challenges. The first of these, shopping online was the increase. Many children and parents preferred not to go to the store to buy toys. One can’t help but wonder why Toys “R” Us didn’t open an online store for itself.
Actually, this wasn’t the only reason.
Toys “R” Us had built several stores outside the city. While they should be in front of the eyes of children, many A wrong strategic move by opening a store out of town they had done.
In addition, children’s needs had also changed. Whether 4 or 13, rather than playing with toys They preferred mobile devices.
They filed for bankruptcy in 2018.
The company, on September 18, 2017, 5 billion dollar debts He requested bankruptcy protection, but business did not pick up again. In March 2018, all 800+ stores in the United States were sold, and it was announced that all 1,758 stores worldwide would also be sold.
On January 20, 2019, the bankruptcy plan came into force and the Toys “R” Us brands were transferred to “Tru Kids”. This is how the 70-year era ended.
If you would like to take a look at the stories of other brands that disappeared:
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