ALLEN (WBAP/KLIF News) – It’s the end of an era for fans of the store that famously proclaimed its “where a kid can be a kid.”
Toys “R” Us will be closing all of its retail stores and liquidating its inventory after filing for bankruptcy.
Jeri Calle shopped at the Allen location today and said she’s sad but not surprised.
“No they really haven’t been competitive in a really long time. They haven’t updated their marketing strategy. They don’t have a big online presence,” she said.
According to CNN Money, Toys “R” Us filed for bankruptcy in September in an attempt to decrease its debt and reinvest in its stores. The toy store disclosed that it was $5 billion in debt and was spending $400 million a year to keep operations going, according to the CNN Money.
The turnaround didn’t work. Although Calle said she’ll miss the store, the benefits of liquidations sales are enticing.
“I just built a new house and I get to stock the shelves for my grandkids,” she said.
Business insiders said numerous problems led to the company’s demise including online sales.
Calle said she thinks kids will miss out on the experience of having an actual brick and mortar shop destination for picking out a new toy.
“Jeffree their big mascot. This generation of kids growing up doesn’t have anything to look to as far as a retail environment and I do think that is a little sad,” she said.
The closures will result in almost 33,000 lost jobs nationwide.
There are 20 Toys “R” Us locations in North Texas and six of them closed earlier this year.
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