Toys R Us started as a children's furniture store founded in 1948 by returning World War II vet Charles Lazarus. Many of its wounds were self-inflicted. And that meant an unpleasant shopping experience that doomed the chain.
But the shifting tide in retail isn't helping either.
While the closures are an immediate blow to the thousands of toymakers that rely on the chain to sell its products, many retailers already smell opportunity and are beginning to stock their aisles full of toys.
A Toys "R" Us spokesperson declined to comment on internal meetings or their content.
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Toys "R" Us makes up 15% of the toy revenue in the United States, according to Fortune.
The business was bought in 2005 by a group of investors, including private equity firms Bain Capital and KKR, which loaded it with about $5bn (£3.6bn) in debt. The $6.6 billion purchase left it with $5.3 billion in debt secured by its assets and it never really recovered.
Both were big box specialty retailers that sputtered for some time before filing for bankruptcy.
It is nit just Toys R Us which is affected, many are hit by the changed customer spending habits.
After decades of being the go-to toy store for many Americans, Toys R Us is officially going out of business.
The West Shaw Avenue Toys R Us store is midway through a going-out-of-business sale, one of up to 182 stores the retailer is closing.
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"When it comes to all those millennials who want to live in those urban centers, we're nowhere", Brandon said in a 2016 interview with Townsend. In that same filing, Brandon admits the chain had fallen behind "on various fronts, including with regard to general upkeep and the condition of our stores".
Brandon also vowed to spend more money on staff.
Fierce competition in the toy segment ultimately led to its demise, including competition from Walmart, Target and Amazon. And Sharper Image, which also shut its stores, now sells gadgets online and opened a NY pop-up shop during the holidays past year.
One of the country's most well-known store chains is closing its doors.
The Canadian arm of the company, however, announced that it planned to stay open. "You have got to tie this back to the debt structure that they have".
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