gedaliyahSep 29

TIL that Toys R Us wasn't killed by competition, but by private equity companies

https://lemmy.world/post/36627195

TIL that Toys R Us wasn't killed by competition, but by private equity companies - Lemmy.World

Basically, the company had to pay for its own buyout when private equity firms KKL, Vornado, and Bain bought the company for $6.6 billion, mostly with loans. Because the company then had to pay off those extreme loans, they were forced to sell off their assets and property, which they leased back from the very private equity firms that now owned them. The same thing happened more recently with Red Lobster and JoAnn Fabrics.

Show threadלָקס (לא לותור) لاكس🏴
@gedaliyah what?? Toys R Us is dead? I'm sure their local store is still open here. Maybe they are a different company who licensed the rights to the name?
Sep 29 at 6:24amWeb
Show threadCarighan MaconarSep 29
Over here the few which are still open are called differently now but the logo looks similar at first because the visual trademark here expired.
Show threadלָקס (לא לותור) لاكس🏴Sep 29
@Carighan I'll have to check the next time I'm there----though it's possible that specific store was closed due to covid, then war. I don't remember when I was last there.
Show threadedgemaster72Sep 29
I believe there’s been 1 or 2 comeback attempts, apparently more successful in some areas than others (my local one never made it back that I’m aware of)
Show threadgedaliyahSep 29
I think there are a few open stores post-bankruptcy