Toys R Us Filing Bankruptcy
I saw on Headline news this morning that Toys R Us is filing bankruptcy after 70 yrs. in business. The store closings will happen over time, and the reason given for their closing is: THE AMOUNT OF TOYS SOLD ONLINE. Sounds like OPPORTUNITY to me. Could be a good niche site idea to research and start. Maybe even something to WRITE ABOUT if anyone is already in this niche.
Furthermore, as the stores close and LIQUIDATE, you will find rock bottom prices if you want to purchase their toys to sell on your website, ebay, Amazon, etc. A great way to get your hands on these deals (even if you don't live near a Toys R Us Store) is to find where they are liquidating their warehouses and leftover store items online. For instance, Liquidation.com and Bulq.com are two sites that sell shelf pulls from Target and several other name brand stores. Definitely worth looking into.
However, this shutdown is just another Sign of the Times we are living in, with online buying and selling increasing exponentially, But there is both good and bad in this. The Toys R Us employees are now searching for new jobs, and many of them know that it may happen to them again. Our financial and retail environments are shifting. And the smart individuals are realizing that having a backup income or several streams of income is vital to both their survival and success.
Just my thoughts . . .
SRowell
Recent Comments
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Yeah they closed their flagship store in times square at the end 2015 and then filed for bankruptcy protection Sept 2016, so the writing was on the wall.
And now they have officially said they are closing over 700 stores in the US, putting over 33,000 people out of work.
So far in Canada the stores are still open, it looks like a few toy manufactures are looking at buying them, but we have to wait and see.
Here's the good and bad of it - Bad and I mean the really bad is so many people are going to be out of work.
Good for a lack of a better word is it strengthens why you need to work for yourself and not be subject to things like this.
That's why promoting the WA and showing people they do have options to protect their finacial future.
And as you said if you are a eBay seller or such you're going to find a lot of great deals.
But overall, this sucks for all those people who worked at toy r us.
Yes - I agree with you! Not good news for Toys R US employees. Our economy is changing, and many people are going to need to learn new skills to survive. I'm already there - having to rethink my financial goals. Si if I find myself unemployed, I'll have something to fall back on, at least until I can build a full-time income.