TOYS R US Files for Bankruptcy

[Vorkosigan]

TRU filed for bankruptcy, apparently they have 5 billion USD in debt. Its not clear yet if stores will close. In case anybody hasn't seen, they recently changed their rewards so that they're not redeemable on LEGO in store, but apparently there is a loophole online. If you have a lot of rewards, should cash them in soon if you want to use them on LEGO. 

https://www.washingtonpost.com/news/business/wp/2017/09/19/toys-r-us-files-for-bankruptcy-amid-struggle-to-pay-down-billions-in-debt/?utm_term=.f246ce33a857

https://www.toysrusinc.com/press/toysrus-inc-commences-court-supervised-processes-to-implement-financial-restructuring

[Aventador2004]

Sales!! I think you may see some good set pricing!

[Mesabi]

My spirit animal is the crow, for we are both scavengers. We will make good use of this opportunity. 

[samurai-turtle]

15 hours ago, Aventador2004 said:

Sales!! I think you may see some good set pricing!

 

3 hours ago, Mesabi said:

My spirit animal is the crow, for we are both scavengers. We will make good use of this opportunity. 

We will see. Besides they only filed for Chapter 11. They could still be operating for a couple of years before the company completely close up shop. 

[indyj19]

Being in the know (I work for them in management) The stores are not closing. After evaluation some non profitable stores may close eventually years down the road but the company will be very much alive. TRU is actually better now than before as we actually have money in the bank now. The stores actually make a profit. The problem is the company that bought TRU in 2005 ish used the stores as collateral and owed the bank $4 billion. They have only been paying interest this whole time so something had to be done. Also all customer programs are operating normally. And in regards to the rewards not allowing Lego, it is usually the vendor that decides those things not TRU.

Eventually once the filing is complete we'll be able to see what the next course of action will be.