The end of Toys ‘R’ Us

As a child, many people have nostalgic memories of the special and whimsical moments of going to their favorite toy stores. Perhaps they weren’t always able to get the doll or action figure they wanted but just running up and down the aisles looking at all the shiny and fascinating objects never failed to amuse a kid.

However, those memories for many may soon fade from existence.

Toys ‘R’ Us, one of the largest toy retailers is in the process of closing all of their stores in the U.S.. The company is starting to draft the court motion for its liquidation plan and will soon be gone for good.The news was also made even sadder once Charles Lazarus, founder of the company, dies only a few days after the company announced it’s closing.

Though the company has been in bankruptcy for some time, there was hope to lessen the debt through the holiday season. However, the most profitable season of the year was dismal in sales, which led them to this point. In order to close as quickly as possible, the company has already started their big closing sales in order to make what little profit they can.

Closing the store doesn’t just impact all the people who have nostalgic memories of the store, but it will also cause other toy companies to suffer. According to Jefferies analyst Stephanie Wissink, the company accounted for 15 to 20 percent of toy sales late year. The end of the store will drastically impact the toy industry, affecting many more than just the company itself. In a ripple effect, other toy brands, such as Hasbro and Mattel, will most likely also go into bankrupt as well further sending millennials into despair.

Because of this era of technology, where toys without some kind of electronic component are a thing of the past, the end of the infamous Toys ‘R’ Us was near. As IPads become more popular than action figures and stuffed animals, and purchasing can be done with the click of a button from the comfort of one’s home, the company was a prime example of time catching up.