The world toy giant is struggling and the main company in the United States has been under bankruptcy since September last year. Now it’s official and they are closing everywhere except for in the Nordic countries!
Huge Toys R Us sales in USA
“We are putting a sales sign on everything,” said CEO David Brandon in a conference call with US employees Wednesday, according to The Wall Street Journal.
This humongous popular kids store called Toys R Us was founded in 1948. They got 881 stores in the United States and 65,000 employees globally. They are all loosing their jobs. Also yesterday (Wednesday) it became clear that the chain closes all their 100 stores in the United Kingdom and 3,000 employees loses their jobs.
All of the Toys R Us stores in the Nordic countries aren’t yet affected by the closure
In the Nordic region however Toys R Us chain isn’t affected as it’s owned by someone else! The 71 Toys R Us stores are run by the Danish BR owner Top-toy, with a total of 4,000 employees in Norway, Sweden, Denmark, Finland and Iceland. So far, the Nordic stores have not been affected by the crisis that the Toys R Us having in the rest of the world, but it is still uncertain what happens next. According to the Wall Street Journal, the company will shut down stores in France, Poland and Spain, while planning to sell stores in Canada, Central Europe and Asia.
Toys R Us has been in fierce competition from online stores, such as Amazon, in recent years, but has also lost market shares to low-priced chains like Walmart. Running bigger businesses can be dangerous. Still we have IKEA, Starbucks, McDonald’s and Burger King to name a few that operates everywhere. Also the fact that almost every regular tv channel in the world have stopped broadcasting kids shows and instead put them on separate 24 hours tv channels instead. We remember how big impact The Children’s Channel did together with Sky Channel that helped the toy stores a lot.
The Wall Street Journal