Can crowdfunding save Toys R Us stores?

Phillip Cunningham
March 26, 2018

As the liquidation sale is underway, the store announced all sales are final.

"Hoping my child can continue to share in the experience of growing up as a Toys 'R'Us kid", one commenter wrote on the GoFundMe page. "Watching my kids walk through the aisles with smiles on their faces, it was a place for them to truly be free", said Larian, in an email to the Canadian Press.

Only adding to the sorrow, Toys "R" Us founder Charles Lazarus died on Thursday, just a week after the company announced it would be closing for good. "We can't just sit back and just let it disappear".

It said the limited information around the future of Toys "R" Us means its losses might differ from those it is predicting, so it will continue to monitor Toys "R" Us's dealings and revise its totals if needed. It's harder to ship such bulky items on Amazon. MGA, based in Van Nuys, California, is the world's largest privately held toy company.

"More bankruptcies are putting further pressure on big box market rents", the note said. The planned liquidation would have a bigger impact on smaller toy makers that rely more on the chain for sales.

Toys R Us now has stores across the globe but in recent months has hit financial troubles.

More recently, Toys R Us found itself unable to survive the trends of the digital age, namely competition from the likes of Amazon, discounters like Walmart and mobile games.

The chain, which is known for its catchy jingle and mascot Geoffrey the Giraffe, filed for Chapter 11 bankruptcy protection last fall.

A liquidation sale started Friday after the company recently announced it would shutter all its USA stores.

"The toy business will suffer" without Toys R Us, Larian said in a telephone interview. Larian has personally aligned with another investor in a separate bid for those operations, though he declined to specify the value of it.

In Canada, Toys "R" Us stocks toddler beds, auto seats, strollers and nursery furniture from Dorel, which also makes bicycles and home products.

Some stores have already shut and around 3,000 jobs are at risk. It operates more than 700 stores outside the United States.

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