The iconic toy store wouldn’t be the first to seek help. In fact, Toys ‘R’ Us has absorbed past competitors like KB Toys, eToys.com and F.A.O. Schwarz after those brands fell on hard times.
Toys ‘R’ Us was $5 billion in debt as of April 29, according to a USA Today report. The company saw a net loss of $164 million in the first quarter and a consolidated net sales decline of $113 million, according to the report. The company hired the law firm Kirkland and Ellis to help pay down about $400 million in debt by the year’s end, according to USA Today.
The toy store did not immediately respond to this news organization’s request for comment.
MORE: Toys ‘R’ Us may file for bankruptcy before the holidays, report says
KB Toys filed for bankruptcy in January 2004. It emerged from bankruptcy in 2005, according to the Associated Press. But the retailer never fully recovered, and returned to bankruptcy in December 2008. Toys ‘R’ Us then acquired its former competitor’s brand, website, and other rights.
In February 2009, the company acquired eToys.com, an online retailer in bankruptcy. A few months later, Toys ‘R’ Us acquired another troubled but iconic retailer, F.A.O. Schwarz. The company had already filed for bankruptcy protection — twice — in 2003, according to the Associated Press.
Toys ‘R’ Us closed its flagship store in Times Square in 2015.
Several Toys ‘R’ Us locations exist in the area. The company has a Toys ‘R’ Us in Beavercreek, and a Toys ‘R’ Us and Babies ‘R’ Us in Miamisburg. There are five Toys ‘R’ Us stores and two Babies ‘R’ Us stores in metro Cincinnati.
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