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Toys 'R' Us has filed for bankruptcy protection in the US and Canada as it attempts to restructure its debts.
The firm was once a dominant player in the US toy market, but has struggled against larger rivals such as Amazon.
The move casts a shadow over the future of the company's nearly 1,600 stores and 64,000 employees.
The firm's European operations are not part of the bankruptcy proceedings and Toys R Us says it does not expect any immediate impact on its UK stores.
Toys R Us's operations in Australia, about 255 licensed stores and a joint venture partnership in Asia are also not included in the bankruptcy move.
[...] The bankruptcy filing is more evidence that traditional retailers are struggling in the US, as online retailers continue to capture market share.
Amazon marches on, or we're just at 'Peak Toy'?
(Score: 4, Interesting) by bob_super on Tuesday September 19 2017, @10:22PM (10 children)
True.
On the other hand, when you slap your name in giant letters on the biggest Casino in Atlantic city, against the recommendations of market experts, and it goes bankrupt, you're reminded that not all bankruptcies are equal...
Leasing a name to a bunch of condos build by someone else during a bubble is something I'd like to be able to do, but it's not a gauge of my investment prowess.
The man is now the CEO of a place running on 100%-of-gross debt, and we'd like to see a plan with some kind of sensible objectives.
(Score: 5, Informative) by Anonymous Coward on Tuesday September 19 2017, @10:36PM (4 children)
And let's not forget the helpful tailwind of shady foreign buyers for those Trump condos.
https://newrepublic.com/article/143586/trumps-russian-laundromat-trump-tower-luxury-high-rises-dirty-money-international-crime-syndicate [newrepublic.com]
A review of the public record reveals a clear and disturbing pattern: Trump owes much of his business success, and by extension his presidency, to a flow of highly suspicious money from Russia. Over the past three decades, at least 13 people with known or alleged links to Russian mobsters or oligarchs have owned, lived in, and even run criminal activities out of Trump Tower and other Trump properties. Many used his apartments and casinos to launder untold millions in dirty money. Some ran a worldwide high-stakes gambling ring out of Trump Tower—in a unit directly below one owned by Trump. Others provided Trump with lucrative branding deals that required no investment on his part. Taken together, the flow of money from Russia provided Trump with a crucial infusion of financing that helped rescue his empire from ruin, burnish his image, and launch his career in television and politics.
(Score: 3, Insightful) by Sulla on Tuesday September 19 2017, @11:53PM (3 children)
Good point, lets bomb them to show that no American should ever have any business dealings with the great red menace.
How much have we looked into similar business dealings by the Hiltons or any other family with large foreign operations? This is not to justify bad behavior by pointing out bad behavior but instead to point out that it is highly unlikely you will find any rose in New York or Washington. Personally I prefer corrupt business dealings to taking money in exchange for selling radioactive materials, but what do I know.
Ceterum censeo Sinae esse delendam
(Score: 2) by PartTimeZombie on Wednesday September 20 2017, @12:10AM (1 child)
None of the Hiltons are the President of the United States.
(Score: 0) by Anonymous Coward on Wednesday September 20 2017, @07:44AM
Yet... be careful what you wish for. It might become true.
(Score: 2) by DeathMonkey on Wednesday September 20 2017, @05:41PM
Most of us advocate impeaching Trump, not bombing Russia. Nice strawman.
(Score: 2, Offtopic) by Sulla on Tuesday September 19 2017, @11:48PM (4 children)
I am a big fan of having a balanced budget and the idea of removing the debt ceiling is disgusting to me. That said I got really tired of the "but look at his bankruptcies!" argument during the election.
Very unfortunate that we are screwed no matter who we choose for office.
Ceterum censeo Sinae esse delendam
(Score: 4, Funny) by bob_super on Wednesday September 20 2017, @12:17AM
> Very unfortunate that we are screwed no matter who we choose for office.
Rumors has it that both major candidates got chosen by some of the most attended primaries ever. Whoever ended up on top of such a dense field was assuredly the candidates most qualified, and representative of the goals and ideals of the people contributing to this extremely high turnout. Wisdom of the masses. Democracy at its finest. The best cream of the most competent crop, as carefully vetted by the best electorate in the world.
(Score: 0) by Anonymous Coward on Wednesday September 20 2017, @06:47AM
The debt ceiling has little to do with spending limits. The money has already been spent. Failing to raise the debt ceiling is the same as deciding not to pay your credit card bill. You've already spent the money, you should pay the bill.
Balanced budgets would be great if they actually got balanced. Most of the time they're balanced against projected future revenue and not adjusted if the revenue is insufficient. They also tend to not consider the costs of not spending money on things like maintenance and education.
(Score: 2) by Grishnakh on Wednesday September 20 2017, @04:29PM (1 child)
Very unfortunate that we are screwed no matter who we choose for office.
The voters screwed themselves. They had the opportunity to elect better people during the Primaries, and instead they chose the worst possible candidates on both sides. This isn't a failure of the system so much as it's a failure by the voters themselves. Our voters are idiots.
(Score: 0) by Anonymous Coward on Wednesday September 20 2017, @07:26PM
oh lordy, i'm agreeing with grisnahk!