Toys ‘R’ Us
It was in Washington, D.C. in the year 1948, Charles Lazarus opened a store called Children’s Bargain Town, which eventually became Toys “R” Us. It was originally a furniture store for children, but the change to offering a mind-boggling range of toys in a big-box setting helped propel the company to great success nationwide. At its highest, Toys ” R “Us dominated 25% of the toy market in the world.
Toys “R” Us started liquidating its American assets in March 2018 after filing for bankruptcy in 2017, launching a ripple effect estimated to impact 30,000-plus individuals. On June 29, 2018, the once-great toy giant closed its doors in the U.S. The coalescence of losing market share to online retailers like Amazon, who saw 24 percent of sales growth, to $4 billion, from 2015 to 2017, and a careless attempt to take the business private was too much for the classic retailer.
The auction for the brand Toys “R” Us is expected to take place in October 2018, with former Toys ” R “Us CEO Jerry Storch expected to be one of its buyers. Can a Toys “R” Us comeback be expected in America’s future? In June 2018, Fairfax Financial Holdings Ltd, for C$ 300 million, acquired the Toys ” R “Us Canada franchise.