WAYNE, N.J. – Citing industry changes and its ongoing debt, representatives from Toys “R” Us announced Wednesday their plan to liquidate all remaining Toys “R” Us kids in the next several months. While the news comes as a shock to many, CEO Dave Brandon said the decision was “a long time coming.”
“A lot of our kids are outdated, and frankly, not in the best condition. It’s embarrassing,” Brandon stated. “We initially thought we’d only have to liquidate a few kids to ensure the others would get the care they needed, but it’s become clear that Toys “R” Us kids have become a liability, and we owe it to our investors to cut our losses and start stripping for parts. It’s the unfortunate reality.”
Though once an industry powerhouse, Toys “R” Us has faced increasing competition online in recent years from outlets like TotTakers, WantAKid, and Amazon.
“There’s not as much need to wander the aisles to see what types of kids are in stock when you can just order them online at snatchers.com and have them brought right to your door,” said recent mother Kathy Pollard.
Company spokespersons have announced that in the coming weeks consumers can expect to see greatly reduced Toys “R” Us kids, with many “bargain bin” and “2-for-1” options available. Any unsold kids are expected to be remaindered overseas at Toys “R” Us international locations, or donated to local recycling plants.
On Thursday the company released an additional statement directing all Babies “R” Us locations to immediately cancel all future infant orders and to unload their current inventories as quickly as possible.
