Toys R Us liquidation sales to start as soon as Thursday
Toys R Us liquidation sales to start as soon as Thursday
98 jobs lost as Toys R Us closes distribution centre
23 March, 2018, 21:52
Toys-R-Us has been facing financial trouble for some time now, with the company accruing $5 billion in debts and liabilities.
Despite a federal bankruptcy court ruling ordering Toys R Us to liquidate its inventory, a move that could close nearly 750 stores across America, the Toys R Us store in Bossier City will remain open, at least for the time being. In addition to toys and board games, Toys R Us sells electronics and video games, all of which will likely be heavily discounted up until the day the store closes.
On Thursday, prime your wallets because that's when the massive sales are expected, as per USA Today.
So what can credit unions and banks learn from Toys R Us?
If you haven't heard by now, I'm sorry I have to be the one to break it to you, but Toys R Us is going out of business.
The toy store, which closed its doors from 2007 to 2009 is hoping to make a comeback. In these instances, Best Buy and Dick's Sporting Goods were in line to profit most, but in both cases, the overlap of stores was significantly lower than Target and Toys R Us is. The company said, "This decline may be attributable to several factors, including competition from big-box retailers, large tenant closures, and the increased popularity of online shopping".
While the liquidation sales will probably include incredible savings on all toys and games, Toys "R" Us locations have already started holding going-out-of-business sales, some beginning as early as last month. After that, you risk forfeiting any value on these cards.
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