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Dec 13
2008

toysrus

Times are tough for every toy seller, but this holiday season could prove particularly hard on Toys ‘R’ Us. The $14 billion chain, which was taken private three years ago, is heading into Christmas with $6 billion of debt

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KB Toys Inc, one of the largest U.S. toy retailers, filed for Chapter 11 bankruptcy protection on Thursday, with a plan to close all its stores and begin liquidation sales in the middle of the holiday season.

KB Toys is the latest retailer to succumb to a sharp decline in consumer spending this year. KB Toys, which runs about 460 stores, said it will try to find a buyer for its wholesale distribution unit as it conducts going-out-of-business sales.

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Signs that the recession will be long and severe mounted Friday with a fresh round of bad economic news, including plunging sales from manufacturers to stores and falling prices that raise fears of dangerous deflation.

The new batch of data showed retail sales fell by 1.8 percent in October, marking a record fifth straight monthly decline. The weakness was led by another sharp drop in auto sales — the worst sales month for automakers in 26 years.

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Comments

Comments

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john says:

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mling says:

Owww…….so sad 2 hear this ……

marry says:

This is just sad… so sad… I so disappointed with u guys… u guys just make it worst. Those people don’t have time for sadness and holiday…. They only have time to think and flip their life 180 and move on … this one of many reason people become money maker i.e. bill gates

chloe says:

i agree with wat ting said. gov is hiding all economic news since recession oledi hit m’sia. many companies closed down (colgate-palmolive oledi closed down in PJ), shutting down for a week, 2 weeks, retrenchment, cost cutting, can’t u feel that or even see that.

raymie says:

Be prudent is the word.. At this difficult time we still need to spend but spend wisely..there will always be uncertainty but prepared ourselve to face it if it come our way.. I felt sorry to all the families that were affected and like what Ting said, I also do not know about my future fate..

ting says:

I totally agreed, we can’t be happy at sad news. Just put ourself in their shoes, you will feel the pinch.

Although our government keep assure us that economic crisis won’t hit M’sia. I still doubt about that & also worry that I might be out of job.

comp_geek says:

Yes, I agree. It’s sad and we can’t be ignorant. People are suffering out there losing jobs and they have mouths to feed. Malaysia will get hit too. We don’t feel it now..but mid next year who knows. Our government says we won’t be affected. So that we keep shopping and cuti2 Malaysia. Save as much as you can.

anym says:

sheesh can u guys be any ignorant? how can u (marry) be thankful for a store to gone bankrupt? A LOT of family is going to lose their job and it’s the holiday season some more. how sad can it be? think what they’ll go through. :((

noname says:

it seems taht many major cos. going bankrupt etc..but we here in malaysia bolehland still have ample of money to shop around at warehouse sales no mater if it xmas, cny, hariraya, deepavali etc….what a life….

DIN says:

Who cares about the doll in the pic. What bout the two chicks behind the doll. hehehhehe

DIN says:

Who cares abput tje doll in the pic. What bout the two chicks behind the doll. LOL

marry says:

Thanks god the toy retailer going bankrupt coz the doll in the picture kinda creepy.