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10-06-2018, 11:56 AM | #21 |
Hisstank.Com General
Join Date: Jun 2009
Location: Secret underground complex
Posts: 7,026
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If it happens it looks like TRU returning as it own store won’t happen for awhile but just the chance of that has me excited.
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10-08-2018, 05:08 PM | #22 |
Hisstank.Com General
Join Date: Jun 2008
Location: PA
Posts: 10,816
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They tweeted for the first time since March (unless they deleted other tweets) 2 days ago.
https://twitter.com/ToysRUs?ref_src=...Ctwgr%5Eauthor They link to a press release which says this: https://www.toysrus.com/press-release/100618/index.html "the new owners are actively working with potential partners to develop ideas for new Toys “R” Us and Babies “R” Us stores in the United States and abroad that could bring back these iconic brands in a new and re-imagined way. Geoffrey LLC will provide additional detail on this front as it becomes available." |
10-08-2018, 07:05 PM | #23 |
Bald Master
Join Date: Apr 2011
Location: Wolverine Lake, MI
Posts: 15,130
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“Don’t call it a comeback, I’ve been here (bankruptcy) for years...” -LLCool J
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10-09-2018, 01:04 AM | #24 |
Iron Grenadier
Join Date: May 2007
Location: Fairfax Va
Posts: 1,177
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GI Joe must go on TRU or no TRU.
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Support the characters of Nostalgia G.I. Joe and Cobra of the 80s and 90s! The vintage ARAH rules! G.I. Joe 1982-1992 way better than the modern versions of G.I. Joes. |
10-09-2018, 02:15 AM | #25 |
Bill Cosplay
Join Date: Feb 2014
Location: Staying clear of knee-jerk nerds.
Posts: 5,914
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You know what, fuck 'em. I hope they fail miserably. They (the creditors) had opportunities to sell the company and possibly keep current stores open and current employees employed, or at least given a severance, but they chose to turn down all offers and liquidate completely. I got to know many of those employees over the years as a representative for a company that did business with TRU. They are good people who deserved better.
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10-09-2018, 08:16 PM | #26 |
ha!
Join Date: Jul 2011
Location: Earth?
Posts: 3,438
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What was the point of liquidating everything to try and reopen? Am I missing something here?
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10-09-2018, 08:24 PM | #27 |
The Man You Know & Love
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10-09-2018, 09:11 PM | #28 |
Bill Cosplay
Join Date: Feb 2014
Location: Staying clear of knee-jerk nerds.
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Quote:
During the liquidation, they had more than one decent and viable offer to buy the company. Two of the offers that I know of were based around buying the company, existing stores or a percentage of them and keeping the company alive and its employees employed. The creditors decided they could get more by liquidating completely and closing shop. Now they've decided they can get more money out the Toys R Us name and associated property by restarting the company instead of selling it all off. And they may be right too, since they've shed the debt to the smaller creditors (toy and other manufacturers and vendors they owed money to) and the costs associated with legacy employees. Regardless, I hope they fail and lose their greedy shirts. Last edited by SmokeBellew; 10-09-2018 at 09:32 PM.. |
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10-09-2018, 09:14 PM | #29 |
Hisstank.Com General
Join Date: Jun 2013
Location: Brooklyn NY!
Posts: 5,239
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Quote:
The bankruptcy left control of the company in the hands of the major creditors (the ones who held the massive billions of debt left over from the leveraged by-out a decade ago). TRU could no longer pay the interest on that debt and remain a viable operation, so they entered bankruptcy seeking protection and hoping to restructure the debt and make it more manageable. The creditors said no dice to that, took over the company and liquidated its assets in an attempt to get as much as possible back of what they were owed.
During the liquidation, they had more than one decent and viable offer to buy the company. Two of the offers that I know of, were based around buying the company, existing stores or a percentage of them and keeping the company alive and its employees employed. The creditors decided they could get more by liquidating completely and closing shop. Now they've decided they can get more money out the Toys R Us name and associated property by restarting the company instead of selling it all off. And they may be right too, since they've shed the debt to the smaller creditors (toy and other manufacturers and vendors they owed money to) and the costs associated with legacy employees. Regardless, I hope they fail and lose their greedy shirts. You’re a good man Smokebellew. You’re welcome to tea at my house any day brother. It sounds like the plot to a third installment of the Wall Street franchise
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Visit my vintage Joe restoration page! https://www.flickr.com/photos/131988164@N07/albums Cross Country's super smooth feedback thread. http://www.hisstank.com/forum/buy-se...ml#post4456308 Currently available Hasbro items. PM me for your prices (DO NOT be discouraged by the listing prices) https://www.ebay.com/sch/i.html?_dkr...nirtoys&_oac=1 Last edited by Cross Country; 10-09-2018 at 09:16 PM.. |
10-09-2018, 09:43 PM | #30 |
Bill Cosplay
Join Date: Feb 2014
Location: Staying clear of knee-jerk nerds.
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Quote:
I despise leveraged buy-outs and especially investment capital firms like Bain, Sun Partners and etc. TRU is not the first to go down in this way. Anyone remember Mervyn's? They were a valuable retailer because they had good products at good prices, a sizable population of loyal customers and they owned their own store real estate. Sun Capital Partners bought them from Target and immediately set about pillaging. They split the company into a retail division and a real estate division, had the real estate division charge the retail division "rent" which was high enough to take all of the retail profits, which of course forced retail into bankruptcy and liquidation and then they sold the real estate. Thousands lost their jobs as a viable and successful company was killed for no better reason than short-term gain. These amoral shit-hole entities have made fortunes off of this sort of slash and burn mindset. |
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