Woman visits Toys R Us, pays off everyone's layaway.

[Cigar]

A woman is being hailed as a layaway angel after she went into a Toys ‘R’ Us store in Bellingham, Mass., on Wednesday and paid off every open layaway account -- giving about 150 customers with items on layaway an early Christmas present.

The generous donor paid $20,000 to wipe the entire layaway balance at that location, a spokeswoman for Toys ‘R’ Us confirmed to ABC News on Thursday.

This incredible act of kindness is a true illustration of holiday giving at its best,” the company said in a statement.
The donor made the payment anonymously, but the Milford Daily News reported that she was a local resident who said she would sleep better at night knowing the accounts had been paid.

http://abcnews.go.com/US/woman-visits-toys-us-pays-off-everybodys-layaway/story?id=27545537

[Adelaide]

That's a really nice thing for someone to do.

[waltky]

Toys 'R' Us to Shut or Sell All US Stores...
:shocked:
Reports: Toys 'R' Us to Shut or Sell All US Stores
March 14, 2018 — Toys 'R' US plans to sell or close all of its US stores, potentially hitting 33,000 jobs, U.S. media reported Wednesday.


The debt-plagued retailer, which filed for bankruptcy protection in September, told employees that the retailer planned to file liquidation papers ahead of a Thursday court hearing, The Wall Street Journal and The Washington Post reported. "We're putting a for sale sign on everything," CEO David Brandon said on a conference call with staff, according to the Journal. Company officials did not immediately reply for a request for comment.


Started in 1948 amid the postwar US economic boom, Toys 'R' US has 881 stores in U.S. territories and nearly 65,000 employees globally, according to the company's most recent press release last month. The New Jersey-based company was saddled with debt following a leveraged buyout in 2005 by a consortium that included the KKR Group and Bain Capital. Much like other retailers, Toys 'R' Us has also been bruised by competition from Amazon and other online retailers. A weak holiday shopping season weighed on the company's efforts to reorganize, analysts said.



https://gdb.voanews.com/AB6D12CE-A1C8-4A2B-9733-2EE8D7CF0F7F_w1023_r1_s.jpg
People walk near the entrance to a Toys 'R' Us store, Jan. 24, 2018, in Wayne, New Jersey.



Neil Saunders, managing director of GlobalData Retail, blamed the company's woes on poor leadership. "As the competitive dynamics of the toy market intensified, management failed to respond and evolve. As such, the brand lost relevance, customers and ultimately sales," Saunders said in a note Wednesday. "The main tragedy of liquidation will be the extensive loss of jobs. In our view, those on the shop-floor have been badly let down by management and those doing financial deals."


The company is exploring strategies for keeping the brand alive, including the sale of 200 U.S. stores that could be packaged with its Canadian business, CNBC and the Journal reported. Brandon outlined this and other possibilities at the New Jersey meeting, CNBC reported. Brandon also told workers they have 60 more days of employment at the company. In February, the company's British business announced plans for an "orderly wind-down" of the company's store portfolio. Toys 'R' Us employs 3,200 people at 100 stores in Britain.


https://www.voanews.com/a/report-says-toys-r-us-could-shut-all-us-stores-risking-thousands-of-jobs/4299034.html

[Grokmaster]

"Broke R Us"....

[waltky]

Is sad, so sad...
:shocked:
Toys 'R' Us 'profoundly sad' to liquidate all U.S. stores
March 15, 2018 -- Toys 'R' Us formally announced Thursday it's started the legal process to begin liquidating, and closing its stores in the United States.


The toy chain filed for bankruptcy liquidation Thursday, asking for court approval to sell off inventory in all 735 U.S. stores, Toys 'R' Us said in a statement -- a move that would precede the stores' physical closures. "I am very disappointed with the result, but we no longer have the financial support to continue the Company's U.S. operations," Toys 'R' Us CEO Dave Brandon said. "We are therefore implementing an orderly process to shutter our U.S. operations and will pursue going concern sales or reorganizations of certain of our international businesses, while our other international businesses consider their options."


https://cdnph.upi.com/svc/sv/upi/3781521116475/2018/1/c9848f8cf7892c508ce87eb2bfcd7f9f/Toys-R-Us-profoundly-sad-to-liquidate-all-US-stores.jpg
Toy chain Toys 'R' Us said Thursday it's filed for bankruptcy liquidation, which would precede the closures of more than 700 stores in the United States. The company's CEO called Thursday "a sad day."

The company said its international operations in Australia, France, Poland, Portugal and Spain are also "considering their options" in light of the liquidation announcement. "This is a profoundly sad day for us as well as the millions of kids and families who we have served for the past 70 years," Brandon said. Toys 'R' Us told employees Wednesday about the store closures, which could affect as many as 33,000 jobs.

Toys 'R' Us said it's engaged in discussions with "interested parties" for a potential deal that could combine as many as 200 U.S. stores with its Canadian operations. A group of toy makers, led by MGA Entertainment, submitted a bid to purchase Toys 'R' Us's Canadian arm which includes 82 stores. In September, Toys 'R' Us filed for Chapter 11 bankruptcy as it struggled to pay down nearly $8 billion in debt from a leveraged buyout in 2005.

https://www.upi.com/Top_News/US/2018/03/15/Toys-R-Us-profoundly-sad-to-liquidate-all-US-stores/3781521116475/?utm_source=upi&utm_campaign=mp&utm_medium=4