It's the end of an era when Toys & # 39; R & # 39; US stores in the United States are shutting down their last shifts and preparing to close their stores on Friday night, but an employee at the Raleigh, North Carolina location said their store would not be open on Friday, reports WFLA. Instead, the staff stacks the few toys left on the shelves after someone anonymously bought $ 1 million of his leftover to donate to local children. It's a nice ending, at least for this store, to a chain that served as a memorable part of millions of children's years, as Toys & # 39; R & # 39; Us was one of the country's largest toy retailer.
All 700 of the stores across the country close their doors as the 70-year-old retailer leaves the shop. Children today will not know the joy that other generations knew when their parents announced, "We're going to Toys & # 39; Us, do you want to come along?" There was no happier moment of the week, in the month or even in a child year when that happened. You will not be a child of Toys & # 39; R & # 39; Us, the goal of every child, or so the commercial will be. But times have changed and online retailers have become too much competition. The store tried to adapt and entered into a lucrative partnership with Amazon in 2000 after EToys appeared on the scene.
"The deal, one of the first of its kind, gave Amazon the exclusive rights to sell Toys & # 39; Us products on its website. Toys' R & # 39; Us reportedly paid it at that time, about $ 50 million a year, Toys & # 39; Us had paid for exclusivity, but it did not understand it.Amazon created a marketplace on which it began to sell toy brands of others, CNBC reports.
A lawsuit soon followed, and while Amazon finally settled for $ 51 million, it put the toy chain behind the bullet, came online for online merchandising, and restored it for tax purposes, from which it never recovers
But that was not the only thing the company brought back – losing tracks to whom they should serve was also described by CNBC .
"I remember when I got there , went to the first meeting with the Executive Committee and thought: "That works to be interesting. Our target audience is mothers with kids, and I've just walked into a room of gang men, "said Warren Kornblum, who served as chief marketing officer in the late 1990s and mid-2000s.
These and other corporate and corporate missteps his leadership led her to file for bankruptcy last September. Now, on this last day, it will shut its doors forever.