Heads up Toys R US CC holders. They filed BK 11

pizza1 · ‎09-19-2017

For those that have the store card and MC, I dont know what the future holds for you, but be on the lookout for correspondance possibly from the lender. Another big retailer feeling the effects from Amazon Me personally...I love to go shopping, and actually see the merchandise. Im not much of an online shopper anyways.

I tried to c&p the link, but my new computer isnt cooperating with me, or it could be user error which is more likely, LOL..

Anonymous · ‎09-19-2017

You're right about the effects of Amazon but this is a Chapter 11 reorganization BK which is fairly common among businesses. I think it will be a while before card holders have to worry about anything. More likely your local store might close but I think the card will be good for quite awhile longer

pizza1 · ‎09-19-2017

@Anonymous wrote:
You're right about the effects of Amazon but this is a Chapter 11 reorganization BK which is fairly common among businesses. I think it will be a while before card holders have to worry about anything. More likely your local store might close but I think the card will be good for quite awhile longer

Yep, reorganization. You're probably right about the cardholders, and being awhile before they may or may not hear anything regarding their cards. But, still something to keep in mind. Im sure we will see store closures as well.

CreditMagic7 · ‎09-20-2017

I wonder if that means Babies"R"Us too

Anonymous · ‎09-20-2017

Magic - It's quite possible the standalone Babies R Us stores may stay open, while the ones that are a duo of that and Toys R Us will close. There are very few national Baby stores and that is definitely a market.

But there are very few standalone Babies r us stores compared to Toys R Us

Anonymous · ‎09-20-2017

@pizza1 wrote:
For those that have the store card and MC, I dont know what the future holds for you, but be on the lookout for correspondance possibly from the lender. Another big retailer feeling the effects from Amazon Me personally...I love to go shopping, and actually see the merchandise. Im not much of an online shopper anyways.

I tried to c&p the link, but my new computer isnt cooperating with me, or it could be user error which is more likely, LOL..

Really nothing to do with Amazon. All these retail organizations going bankrupt were taken private by big leveraged buyouts and then the owners further leveraged the companies paying themselves big dividends and now the companies can't pay back all the huge loans once they come due. Owners get rich and companies fail and bond holders left holding the bag.

Anonymous · ‎09-20-2017

Frog pretty much nailed it. Does amazon have an impact on retail stores bottom line? IMO yeah of course. Is it enough that stores are closing as a result? Nope. Managed retail for years (target if anyone's curious) and can tell you basically every brick & mortar store is losing money until the holiday season at the end of the year, hence black Friday - the day stores ledgers come out of the red & into the black. Long after the rise of amazon every year you see normally desolate & abandoned stores being overrun with shoppers during the 4th quarter. My personal guess is stores lose maybe 3-5% of day to day spend too amazon, but many recoup this via online sales.

If you want to point a finger at a large faceless company running long standing stores out of business, turn thy eye towards Walmart lol.

CreditCuriosity · ‎09-20-2017

No impact to card holders currently. They being Toy's R us have wanted to do restructuring for awhile now and this is their chance. Many companies go through Chap 11 and come out as better companies from it.

Anonymous · ‎09-20-2017

@Anonymous wrote:

If you want to point a finger at a large faceless company running long standing stores out of business, turn thy eye towards Walmart lol.

While there is truth to this, Amazon is the new Walmart, and is going to actually surpass it. They are on a collision course towards each other. Retail is losing a ton of business to Amazon, and it only increases each year as the world becomes fully adpoted to buying everything online. Hell, even in the rare times I go shopping, I will quickly compare on my phone if something is cheaper via Amazon. Not to mention free shipping and 5% back.

Anonymous · ‎09-20-2017

A lot of this is interesting discussion but has little to do with credit cards. So, moving to General Credit