{"id":2314,"date":"2017-09-19T19:47:34","date_gmt":"2017-09-20T02:47:34","guid":{"rendered":"http:\/\/re-tales.net\/?p=2314"},"modified":"2017-09-19T19:47:34","modified_gmt":"2017-09-20T02:47:34","slug":"another-one-bites-the-dust","status":"publish","type":"post","link":"https:\/\/re-tales.net\/?p=2314","title":{"rendered":"Another One Bites The Dust"},"content":{"rendered":"

They’re not dead yet, but the fat lady might be singing soon. \u00a0Toys ‘R’ Us has filed for bankruptcy and is yet another brick and mortar casualty to online purchasing. \u00a0 Obviously parents have decided it’s easier to sit in their living room and shop for the new hot toy that little Johnny wants (sorry, it’s 2017, should be what little Liam, Mason or Jacob wants…) \u00a0instead of parking, wandering around a huge store searching for that special item while their kid decides he wants everything on aisle 14 and won’t stop crying until he gets it.<\/p>\n

So let’s see—books, electronics, office supplies, toys. \u00a0What other industry can Amazon kill next?<\/p>\n

from the New York Times.<\/p>\n

\n
\n

Toys \u2018R\u2019 Us Files for Bankruptcy, Crippled by Competition and Debt<\/h2>\n<\/div>\n<\/header>\n
\n
\n
\n
\n

\"\"<\/p>\n

<\/div>\n<\/div>
Toys \u201cR\u201d Us said it would continue to operate its stores \u201cas usual\u201d during bankruptcy proceedings.<\/span>Credit<\/span>Adam Hunger\/Reuters<\/span><\/figcaption><\/figure>\n

Toys \u201cR\u201d Us, one of the world\u2019s largest toy store chains, has filed for bankruptcy protection, becoming the latest casualty of the pressures facing brick-and-mortar retailers.<\/em><\/p>\n

The company made the Chapter 11 bankruptcy filing late Monday night in federal court in Richmond, Va., acknowledging that it needed to revamp its long-term debt totaling more than $5 billion.<\/em><\/p>\n

The retailer, which also owns Babies \u201cR\u201d Us, has struggled to compete with Amazon and stores like Walmart.<\/em><\/p>\n

But the financial plight of Toys \u201cR\u201d Us was exacerbated by a heavy debt load that has weighed on the company for years. The private equity firms Kohlberg Kravis Roberts and Bain Capital, as well as the real estate firm Vornado Realty Trust, purchased the company in a leveraged buyout for about\u00a0$6 billion in 2005<\/a>.<\/em><\/p>\n

The company faced $400 million in debt payment coming due in 2018 and was burning through its cash. It hired advisers, including the law firm\u00a0Kirkland & Ellis<\/a>, to help come up with a plan.<\/em><\/p>\n<\/div>\n<\/div>\n

\u00a0In a statement on Monday night, Toys \u201cR\u201d Us said the filing would help the company invest in long-term growth and \u201cfuel its aspirations to bring play to kids everywhere and be a best friend to parents everywhere.”<\/em><\/div>\n
\n
\n