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  #1  
Old 21st May 2018, 07:45 PM
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Default Toys 'R' Us Australia goes into administration

https://www.insideretail.com.au/blog...dministration/

http://www.news.com.au/finance/busin...fde6e0e53e3e90

Note that stores will still be trading as usual.
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  #2  
Old 21st May 2018, 08:36 PM
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Unfortunate. Could we see a similar “sell everything for pennies” liquidation approach if/when the days start counting down?
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Last edited by Bidoofdude; 21st May 2018 at 10:55 PM.
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  #3  
Old 21st May 2018, 08:52 PM
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Content of articles mirrored below.

Inside Retail
Quote:
Toys ‘R’ Us Australia falls into administration
May 21, 2018
Toys ‘R’ Us Australia and sister brand Babies ‘R’ Us have fallen into voluntary administration, following the collapse of US-based Toys ‘R’ Us Inc.

Insolvency firm McGarthNicol was appointed as the administrators after a bid to purchase the Australian business was withdrawn.

McGarthNicol said in a statement on Monday that all Toys ‘R’ Us Australia stores will continue to trade as options for a potential sale of the standalone Australian business is explored.

44 retail stores and around 700 permanent staff are caught up in the administration.

Toys ‘R’ Us Inc has been seeking to offload its international businesses for several months amid a liquidation process that is seeing more than 700 stores wound down in the US.

It has already entered into agreements to sell off its Canadian and European businesses, while its US operations remain in play.

Toys ‘R’Us Inc has also said that multiple offers have been made for Toys ‘R’ Us Asia, which it owns an 85 per cent stake in.

The Australian Toys ‘R’ Us business has been struggling for some time, booking millions in losses in recent years, but was being expanded under the leadership of Dianne Guerreiro, who as of late last year was actioning plans to open new stores.

The collapse of Toys ‘R’ Us sister brand Babies ‘R’ Us is the latest in a long line of retail collapse in the baby goods category in the last 18 months, that has now claimed the scalps of three of four of the largest players in the sector.

news.com.au
Quote:
Toys ‘R’ Us goes into administration in Australia
MAY 21, 20187:27pm
TOYS ‘R’ US Australia has gone into voluntary administration months after the US and UK retail giant’s collapse.

Directors of the company resolved to appoint voluntary administrators McGrathNicol after the withdrawal of the final bidder for the sale of the Australian business, McGrathNicol said in a statement on Monday.

All Toys ‘R’ Us Australia stores will remain open and continue to trade while the administrators explore options for the sale.

The stand-alone Australian business operates 44 retail stores across Australia and employs about 700 permanent staff.

Toys ‘R’ Us filed for bankruptcy protection in the US last September and after frantic attempts to restructure the business finally waved the white flag in March when chief executive David Brandon told employees the retailer’s more than 700 remaining US locations would go along with 33,000 jobs.

“We’re putting a for sale sign on everything,” Mr Brandon told employees in a conference call. “Frankly, all anyone has to do is offer one dollar more (than liquidators).”

Shortly afterwards, the UK and Irish operations also shut up shop.

Toys ‘R’ Us in Australia has continued to trade as normal with speculation the company may bundle the business up with the Asian stores and sell the whole lot off, potentially as a stand-alone operation under the same and much-loved brand.

The development follows an unusual fire sale of the US business’s intellectual property to pay off creditors in the wake of its bankruptcy.

Alongside the Geoffrey the Giraffe logo and the Babies R Us trademark, the firm is also putting up a series of racy URLs including kinkytoysrus.com, sex-toys-r-us.com, and toysrussucks.com.
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Old 21st May 2018, 08:55 PM
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O_O I just want my mp black panther please and for those poor guys at the barely a year old werribee plaza store to keep going
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Old 21st May 2018, 09:03 PM
Galvatran Galvatran is offline
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Quote:
Alongside the Geoffrey the Giraffe logo and the Babies R Us trademark, the firm is also putting up a series of racy URLs including kinkytoysrus.com, sex-toys-r-us.com, and toysrussucks.com.
That's just weird.

(could it be they own the domain names to prevent others from acquiring them?)
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Old 21st May 2018, 10:55 PM
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Quote:
Originally Posted by Galvatran View Post
That's just weird.

(could it be they own the domain names to prevent others from acquiring them?)
Yes, pretty sure a lot of companies buy URLs like this to prevent a less than glowing image of them. It would be of no use to anyone or anything, so I guess they're just throwing it all out. No point in keeping them.
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Old 21st May 2018, 11:42 PM
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Didn’t baby bunting and baby wrehouse also close down in the last two or so years???

How can stores that have such a prime market Keep going out of business? What are they all getting so wrong?
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Old 21st May 2018, 11:55 PM
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Quote:
Originally Posted by i_amtrunks View Post
Didn’t baby bunting and baby wrehouse also close down in the last two or so years???

How can stores that have such a prime market Keep going out of business? What are they all getting so wrong?
Baby Bunting is still around. I applied for a job at one (I got turned down), as did my friend. They seem to be in the top though.
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Old 22nd May 2018, 01:07 AM
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I hate to be an alarmist but the mp shadow panther listing on the tru website is gone.

Shall we start killing pre-orders or hold fire?
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  #10  
Old 22nd May 2018, 07:30 AM
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Hoping they find a new owner, TRU really seems to have upped their game recently too...
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