Update 2: Completely selfish of me to think this considering there are people’s jobs on the line, but I seriously hope this doesn’t affect SNES Classic availability. I struck out on the day pre-orders went live so brick and mortar stores are my only option. TRU took no online pre-orders and has confirmed they will only be selling it in stores on release day.
Update: And so it begins.
I guess the TRU tax wasn’t enough to keep it in the black. Bloomberg has a good article on it explaining how the retail giant found itself in this position.
I remember when Toys’R’Us was THE place to go to. Now that big box stores are competing at the brick and mortar level and the juggernaut known as Amazon ruling the online space, it’s hard to compete. They closed down a few locations a couple of years ago, restructured a bit, introduced the infamous Toys’R’Us tax, and they are still struggling.
This, following the news of LEGO laying off peeps, it’s not looking good for the toy industry as a whole.
The bankruptcy filing is Chapter 11, giving it protection from creditors while it restructures. It’s not as bad as Chapter 7. Chapter 7 is bad news.