Toys R’ Us announced that they are closing all of their U.S. stores in the coming weeks, leaving more than 33,000 workers out of a job.
Unfortunately, for Toys R’ Us, it doesn’t appear that their business model was working for them, as the company filed for bankruptcy protection in September 2017. Shortly after, rumors of store closures started taking effect, and today, the company announced that they would be closing all of their U.S. locations.
For the time being, Canadian stores will remain open, with no announcement of closure made as of yet. UK stores aren’t that lucky though, as news broke out that they are going to start closing stores as early as today. Nostalgic shoppers should take this chance to see what may have been their favorite store as kids before they shut their doors for good.
The way people purchase games has been changing for years now, in a way that no physical retailer can take its place. People wanting to purchase their games physically have turned to more convenient options, such as Amazon, who offers a 10% discount when pre-ordered or purchasing new release titles. Stores like EBGames and Gamestop have changed their business model dramatically within the last few years, slowly blending in a mixture of clothing and collectibles to support their business.
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Source: Wall Street Journal