Jump to content

Toys 'R' Us Files For Bankruptcy


DACH
 Share

Recommended Posts

nono... u dont get what im saying...  

 

to work at McD min age is 16....   if u telll them to work there... means.. they hit minimum age... means they are most likely too old for toys! 

 

if they like toys.. then .. its likely they have not hit the min age.. for which.. you are cruel to suggest child labour!!!

 

Oh, now McD min age is 16.

 

I worked for McD when I was 14. Some more had to open my own UOB savings account for them to credit my salary at 14.

↡ Advertisement
Link to post
Share on other sites

Don't they have all the movies now?

 

Before that also have. Like Superman (Christopher Reeves in the 80s) but only superman seemed popular back dan. Difficult and ex to do too coz of the special effects. It's only now with better tech they can do more.

Link to post
Share on other sites

Oh, now McD min age is 16.

 

I worked for McD when I was 14. Some more had to open my own UOB savings account for them to credit my salary at 14.

 

what's the min age for deliveroo/food panda

I see some older teens cycling or scooting around the estate with the bags on weekends or evenings 

Link to post
Share on other sites

Before that also have. Like Superman (Christopher Reeves in the 80s) but only superman seemed popular back dan. Difficult and ex to do too coz of the special effects. It's only now with better tech they can do more.

 

Isn't superman (and batman) under DC Comics?

Link to post
Share on other sites

Oh, now McD min age is 16.

 

I worked for McD when I was 14. Some more had to open my own UOB savings account for them to credit my salary at 14.

 

Some activist-minded ppl confuse child slavery with children working to get extra pocket money. It's more of the learning process and money management in fortunate Sgp.

  • Praise 2
Link to post
Share on other sites

what's the min age for deliveroo/food panda

I see some older teens cycling or scooting around the estate with the bags on weekends or evenings 

 

I dont know.

 

But when I was 14 and working at McD, they are already doing such delivery on bicycle or walking to the nearby estates. That was in 1991. I dont do deliveries, I prefer to stay in the store. My colleagues/frens did the deliveries.

Link to post
Share on other sites

And no. McD was not my first job.

 

The year before, 1990, when I was 13, was working in a office in beach road as a temporary office boy. Very boring work, stuck in the office from 9 - 5. Lunch at Blanco Court.

 

Even before that, I "worked" at my aunt's place as a gardener. I helped her mow her garden for goodies(coke, kitkat & agar agar). I think I was exploited. So moved on to working outside the family. Working for others get batter pay. [laugh]

 

Link to post
Share on other sites

Oh no. Hope the stores in Singapore will remain open for years.

 

I think Toy R Us gave us many memories in our childhood and now to parents as new found memories.

 

It's a pity if it shuts down.

 

Toys 'R' Us Files For Bankruptcy, But Will Keep Stores Open

https://www.forbes.com/sites/laurengensler/2017/09/19/toys-r-us-bankruptcy/#4062f746574a

 

Toys 'R' Us, the children's toy store struggling from a massive amount of debt and fierce online competition, has filed for bankruptcy.

The retailer sought Chapter 11 bankruptcy protection late Monday evening in federal court, seeking a way out of the $5 billion in debt it has racked up. It said it would keep its 1,600 Toys 'R' Us and Babies 'R' Us stores open as normal heading into the busy holiday season.

Toys 'R' Us has been crippled by debt since it was acquired by private equity firms KKR and Bain Capital, plus real estate company Vornado Realty Trust, in a $6.6 billion leveraged buyout in 2005. It had started the process of going public in 2010, but ultimately pulled the filing, citing "unfavorable market conditions."

The company described the bankruptcy as a way to work with its creditors to get back on solid financial footing and invest in long-term growth in a difficult retail environment.

"Today marks the dawn of a new era at Toys"R"Us where we expect that the financial constraints that have held us back will be addressed in a lasting and effective way," said CEO Dave Brandon in a statement.

 

960x0.jpg?fit=scale

 

The company has received more than $3 billion in debtor-in-possession financing from J.P.Morgan Chase and other lenders, which will help it sustain operations during the bankruptcy process.

Toys 'R' Us, which began as a single store for baby carriages and cribs in Washington, D.C. in 1948, quickly became a favorite destination for children's toys. In recent years, the big-box retailer snatched up competitors like FAO Schwarz and KB Toys, pursued international expansion and slashed prices in an effort to continue attracting shoppers to its colorful aisles.

 

However, sales have slipped in the face of competition from giants like Amazon and Wal-Mart. In its latest quarter, same-store sales fell by 4.1%, helping the retailer to post losses of $164 million.

While Toys 'R' Us said the "vast majority" of its stores are profitable, it will likely be reevaluating at its physical footprint during the bankruptcy process.

Toys 'R' Us joins a parade of other retailers that have sought bankruptcy protection this year, including shoe store Payless and children's clothing retailer Gymboree. Many other retailers have aggressively closed stores and laid off employees, instead shifting resources to online capabilities.

7438786072_1c11e30a47_z.jpg

I don't have much feelings for Toysrus. The few toys that my parents bought for me are from the department stores like OG back then. As an adult collecting toys, toysrus are not cheap. but they do have a huge variety of merchandise, something like Autobacs to me. But again, sourcing online is probably cheaper.

In US, their online store is actually quite good. But its not necessary to buy a lot of toys for kids now thanks to Steve jobs. A tablet will usually suffice. In other forums, people are worried about the future of Hasbro's transformers masterpiece line since Toysrus is the licensed distributor.

  • Praise 1
Link to post
Share on other sites

And no. McD was not my first job.

 

The year before, 1990, when I was 13, was working in a office in beach road as a temporary office boy. Very boring work, stuck in the office from 9 - 5. Lunch at Blanco Court.

 

Even before that, I "worked" at my aunt's place as a gardener. I helped her mow her garden for goodies(coke, kitkat & agar agar). I think I was exploited. So moved on to working outside the family. Working for others get batter pay. [laugh]

Can guess your age liao...

 

Link to post
Share on other sites

Toys 'R' Us is an atas toy store when i was a kid back then. Dont dare to walk into any of the store as all toys selling inside were expensive which i have no money to buy.

  • Praise 3
Link to post
Share on other sites

Bankruptcy doesn't mean you are not profitable though. Just means your cashflow cannot meet your obligations.

 

But in their case, most likely their operations can still be profitable but their owner took a hefty loan on their books to finance the LBO. So cannot afford the hefty loan installments lor. Now they declare chpt 11 which means they are re-organizing the business instead of closing/liquidating it. Probably hold the debt-owners at gunpoint and force them to convert to equity at a big haircut - this will lower their loan repayments and they can continue to run the business.

 

Like someone who buys a property which he cannot afford. So once savings dry up, and income is insufficient to finance the mortgage and monthly instalments not paid, kena bankrupted lor...

Link to post
Share on other sites

when I was young, I ask for toys from TOY R US. 

 

Kena Fxxx.  Dad says...buy toys for what, buy cars !

 

 

you more haolian than T2   [thumbsup]  [thumbsup]

 

[laugh]  [laugh]

  • Praise 1
Link to post
Share on other sites

you more haolian than T2 [thumbsup][thumbsup]

 

[laugh][laugh]

Confirmed!

 

Actually Most people here are more haolian than me.

 

I only speak the truth which you guys cant accept, then you call me haolian.

Edited by Throttle2
↡ Advertisement
Link to post
Share on other sites

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!

Register a new account

Sign in

Already have an account? Sign in here.

Sign In Now
 Share

×
×
  • Create New...