According to WHO Radio News:
Toys R Us is planning to close all 800 of its U.S. stores six months after filing for bankruptcy. As many as 33-thousand jobs across the country will be affected by the shut down.
In 2005, a leveraged buyout led to issues paying down eight-billion-dollars in debt. Competition from online retailers such as Amazon also proved to be too much to overcome.
Other reports say that Toys R Us hoped that a robust holiday season would save it. It didn't happen.
That line caught my eye because I remember going to Toys R Us during the holiday season and simply wandering up and down the aisles looking for something cool to get the kids. I didn't have an idea when I went to the store what I would get - but knew I'd find something that they'd like.
NOW, the grandkids do the browsing...online. They'll pick something out and mom will let me know what they want.
I think the reason that Amazon is so successful in this realm is that it is easy to find a very specific item in a very short period of time - and then it can be gift-wrapped and shipped. That's especially convenient when buying for relatives that live around the country.
So...goodbye Toys R Us. We'll miss this catchy jingle.