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Thread: ToysRUs UK & US bankruptcy & closure

  1. #101
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    It looks like it will be renamed Geoffrey's toy box, and some past employees (management I guess, not retail workers) are still reporting for duty, so hopefully there will be SOME loyalty and they hire back old staff if still available

    More details on https://www.seibertron.com/transform...cy-plan/42190/
    On the lookout for MISB Headmaster Highbrow, Takara or Hasbro. I'm sure I could make you a sweet deal!

  2. #102
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    Another official announcement, noting that it is still requiring approval by the Bankruptcy court, but if it is, the new entity will be looking to open stores again in America, and around the world (which could include here).
    A shame it comes four months too late for the Australian branch, as this sort of development might have made it more inviting for potential buyers who needed more assurity of parent company support (including the parties who were already making bids, but withdrew later).


    Geoffrey, LLC’s Assets to Be Acquired by Its Secured Lenders

    WAYNE, NJ – October 2, 2018 – Geoffrey, LLC, Toys “R” Us, Inc.’s intellectual property holding company subsidiary, announced today that it is moving forward with a plan for substantially all of its assets to be acquired by a group of investors led by Geoffrey, LLC’s existing secured lenders.

    The announcement was made following a five month marketing effort by Boston-based Consensus, an investment bank retained to market the assets of Geoffrey, LLC, that resulted in several formal and informal proposals to acquire the intellectual property assets. After considering such proposals, it was determined that the proposal from the existing term lenders was meaningfully higher and better than any other global bid or the sum of the bids received on individual assets. The transition of the business to its new owners is pending approval of the United States Bankruptcy Court and all major creditor constituencies are supportive. Geoffrey, LLC thanks all parties that participated in discussions with the company over the prior months, particularly those that submitted proposals, for their thoughtful and diligent engagement.

    Geoffrey, LLC, as reorganized, will control a portfolio of intellectual property that includes trademarks, ecommerce assets and data associated with the Toys “R” Us and Babies “R” Us businesses in the United States and all over the world, including a portfolio of over 20 well-known toy and baby brands such as Imaginarium, Koala Baby, Fastlane and Journey Girls. The reorganized company will own rights to the Toys “R” Us and Babies “R” Us brands in all markets globally, with the exception of Canada. It will also become the licensor of the brands to the company’s existing network of franchisees operating in countries across Asia, Europe and the Middle East, and in South Africa.

    In addition to continuing to service these markets, the new owners are actively working with potential partners to develop ideas for new Toys “R” Us and Babies “R” Us stores in the United States and abroad that could bring back these iconic brands in a new and re-imagined way. Geoffrey LLC will provide additional detail on this front as it becomes available.

  3. #103
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    Quote Originally Posted by griffin View Post
    Another official announcement, noting that it is still requiring approval by the Bankruptcy court, but if it is, the new entity will be looking to open stores again in America, and around the world (which could include here).
    A shame it comes four months too late for the Australian branch, as this sort of development might have made it more inviting for potential buyers who needed more assurity of parent company support (including the parties who were already making bids, but withdrew later).
    If this is approved I don't think its going to be too hard to kick start the Australian branch back into gear. The store i worked in closed down on the 5th of august just over 2 months ago and it hasn't been touched since, all the logos and everything are still up on the building, hell much of the old equipment is still all there.
    Naturally I'd be happy if there's a reopening and I can potentially get my job back as myself and many others are yet to find new work. If this is passed hopefully something comes up soon.

  4. #104
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    The Garden City store has been completely gutted, and walls have been knocked down (of the two stores next to it that also closed up at about the same time) for something huge at that end of the shopping centre.





    That pillar in the foreground to the left was where the front service counter was, while the pillars to the right were the dividing wall between TRU and the Library.

  5. #105
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    Quote Originally Posted by griffin View Post
    The Garden City store has been completely gutted, and walls have been knocked down (of the two stores next to it that also closed up at about the same time) for something huge at that end of the shopping centre.

    That pillar in the foreground to the left was where the front service counter was, while the pillars to the right were the dividing wall between TRU and the Library.
    Can only imagine what will be there next, What a huge space.
    I wonder how many have already been cleared out or just left alone at this point.

  6. #106
    hYpNoS is offline Rank 6 - Dedicated Member
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    The werribee plaza store here in vic was bought by toyworld which seemingly bought all the fixtures and even employed most of the staff (although the number in active service has declined, you won't see all those registers opened), I wonder what had happened to the highpoint store space?

    Whatever the case the move to bring it back like this is truly a kick in the teeth and I hope the staff affected have gotten better jobs after the initial closure, dick move by those in charge as per usual

  7. #107
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    Stores inside a westfield or large shopping centre would be quickly filled. Stand alone stores would more likely remain vacant for a while... as in America, as most TRU stores were free standing... probably to be more visible to passing traffic.

  8. #108
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    Quote Originally Posted by griffin View Post
    Stores inside a westfield or large shopping centre would be quickly filled. Stand alone stores would more likely remain vacant for a while... as in America, as most TRU stores were free standing... probably to be more visible to passing traffic.
    Toymate is opening this weekend at the old Bankstown TRU location.

  9. #109
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    The closure of ToysRUs in several countries is being noted as a factor in the 12% hit to Hasbro's revenue for the last quarter... but they also noted that the absence of a June/July Transformers Movie this year left a hole in this year's sales during that period compared to last year.

  10. #110
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    Looks like the curse of ToysRUs in 2018 has hit another region, with the Nordic branch of ToysRUs heading into bankruptcy.

    It's actually the parent company that has the license for ToysRUs in Scandinavia that is having financial trouble, but a poor Christmas season at their toy stores was the last straw.

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