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(LA Times)   Toys R Liquidated   ( latimes.com) divider line
    More: Interesting, Leveraged buyout, U.S. division, Debt, Vornado Realty Trust, Toys "R" Us, debt restructuring, Private equity, Bankruptcy  
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2391 clicks; posted to Business » on 08 Mar 2018 at 7:05 PM (39 weeks ago)   |   Favorite    |   share:  Share on Twitter share via Email Share on Facebook   more»



44 Comments     (+0 »)
 
View Voting Results: Smartest and Funniest
 
2018-03-08 06:17:38 PM  
Ah yes, Bain Capital's business wizards. I've heard of them.
 
2018-03-08 06:20:34 PM  

Tanqueray: Ah yes, Bain Capital's business wizards. I've heard of them.


Same buttheads that bankrupted KB Toys.

Why do they hate kids?
 
2018-03-08 06:24:41 PM  
I don't wanna grow up
I'm a Toys R Us kid
They've got the best
for so much less
you'll really flip your lid
From bikes to trains
to video games
it's the biggest toy store there is
Gee Whiz!
I don't wanna grow up
'Cause baby if I did
I couldn't be a Toys R Us kid.

I'm not sure exactly what it means that this entire song still resides strongly enough in my memory that I could type it out without any hesitation right now.
 
2018-03-08 06:38:17 PM  

Pocket Ninja: I don't wanna grow up
I'm a Toys R Us kid
They've got the best
for so much less
you'll really flip your lid
From bikes to trains
to video games
it's the biggest toy store there is
Gee Whiz!
I don't wanna grow up
'Cause baby if I did
I couldn't be a Toys R Us kid.

I'm not sure exactly what it means that this entire song still resides strongly enough in my memory that I could type it out without any hesitation right now.


That your a Giraffe?
 
2018-03-08 06:59:33 PM  
fark you Mitt.
 
2018-03-08 07:09:22 PM  
i.imgflip.comView Full Size


[chuckles capitalistically]
 
2018-03-08 07:18:27 PM  

Tanqueray: Bain Capital


img.fark.netView Full Size
 
2018-03-08 07:18:52 PM  
KKR's handiwork is all over this one as well.
 
2018-03-08 07:26:25 PM  

Tanqueray: Ah yes, Bain Capital's business wizards. I've heard of them.


The company has not had a profit since 2013 but lets blame Bain anyways.
 
2018-03-08 07:33:30 PM  

gingerjet: The company has not had a profit since 2013 but lets blame Bain anyways.


Well, since Bain started stripping assets in 2005, uh, yeah.
 
2018-03-08 07:49:15 PM  
whyfiles.orgView Full Size
 
2018-03-08 07:59:19 PM  
I don't think these Bain fellows are much good at business.
 
2018-03-08 08:00:45 PM  

Catlenfell: I don't think these Bain fellows are much good at business.


They made well for themselves. Their goal isn't to create a good business through the acquisition of an existing company. Their goal is to milk that acquisition for all they can get before dumping the shell of the corpse out by the harbor.
 
2018-03-08 08:02:47 PM  
I've always wanted to skin a giraffe!

 
2018-03-08 08:03:09 PM  

dericwater: Catlenfell: I don't think these Bain fellows are much good at business.

They made well for themselves. Their goal isn't to create a good business through the acquisition of an existing company. Their goal is to milk that acquisition for all they can get before dumping the shell of the corpse out by the harbor.


Vampire Capitalists.
 
2018-03-08 08:04:46 PM  

BunkyBrewman: Tanqueray: Ah yes, Bain Capital's business wizards. I've heard of them.

Same buttheads that bankrupted KB Toys.

Why do they hate kids?


Because they want them making phones and mining for diamonds.
 
2018-03-08 08:05:46 PM  

FormlessOne: I've always wanted to skin a giraffe!


Fark isn't your personal erotica site.
 
2018-03-08 08:06:47 PM  

FormlessOne: dericwater: Catlenfell: I don't think these Bain fellows are much good at business.

They made well for themselves. Their goal isn't to create a good business through the acquisition of an existing company. Their goal is to milk that acquisition for all they can get before dumping the shell of the corpse out by the harbor.

Vampire Capitalists.


I believe the term is vulture capitalists. But that might be going after dying companies. Vampire capitalists may go after companies that aren't dying, then drain them of their life force. So maybe you're right, depending on whether Toys 'я Us is/was a going concern.
 
2018-03-08 08:13:18 PM  
*scans thread*

OK we're done here.
 
2018-03-08 08:18:24 PM  
There can only be one...

img.fark.netView Full Size
 
2018-03-08 08:41:30 PM  

gingerjet: Tanqueray: Ah yes, Bain Capital's business wizards. I've heard of them.

The company has not had a profit since 2013 but lets blame Bain anyways.


TRU would be profitable without the 'management' fees paid to Bain and the debt payments from the debt that was taken on to pay KKR and Bain.  They stripped the company, plan and simple.
 
2018-03-08 08:49:16 PM  

Pocket Ninja: I don't wanna grow up
I'm a Toys R Us kid
They've got the best
for so much less
you'll really flip your lid
From bikes to trains
to video games
it's the biggest toy store there is
Gee Whiz!
I don't wanna grow up
'Cause baby if I did
I couldn't be a Toys R Us kid.

I'm not sure exactly what it means that this entire song still resides strongly enough in my memory that I could type it out without any hesitation right now.


I was in the "there's a million things at toysrus that I can play with" generation I think. But man I miss the massive wall-o-Nintendo-game-slips era.
 
2018-03-08 09:01:50 PM  

Tanqueray: gingerjet: The company has not had a profit since 2013 but lets blame Bain anyways.

Well, since Bain started stripping assets in 2005, uh, yeah.


and TRU's losses since 2013 are the result of Interest payments on debt

Toys "R" Us generated $11.5 billion in sales in 2016. And though the company hadn't reported an annual profit since its 2013 fiscal year because of interest payments, its operating income had risen 22 percent, to $460 million

https://www.bloomberg.com/news/articl​e​s/2018-03-08/toys-r-us-said-to-be-prep​ping-liquidation-of-u-s-operations
 
2018-03-08 09:11:46 PM  

almandot: Pocket Ninja: I don't wanna grow up
I'm a Toys R Us kid
They've got the best
for so much less
you'll really flip your lid
From bikes to trains
to video games
it's the biggest toy store there is
Gee Whiz!
I don't wanna grow up
'Cause baby if I did
I couldn't be a Toys R Us kid.

I'm not sure exactly what it means that this entire song still resides strongly enough in my memory that I could type it out without any hesitation right now.

I was in the "there's a million things at toysrus that I can play with" generation I think. But man I miss the massive wall-o-Nintendo-game-slips era.


Toys R Us is the only place I ever saw a VirtualBoy in real life. They had one of those trial setups with Wario Land. So many memories. I must have played that thing for two whole minutes. Which I think is probably a VirtualBoy world record.
 
2018-03-08 09:15:59 PM  
Asset stripping at its finest by the great vulture capitalists.  They were doomed as soon as they were loaded with insurmountable debt.  This story has been and will continue to be repeated.
 
2018-03-08 09:31:09 PM  
Dave Brandon is the CEO. Dave Brandon is the worst. Destroyed Michigan athletics for a while, may have or may not have turned Dominos into what it is now. And killed Toys R Us in what was an impossible job nobody could have fixed without a lifeline
 
2018-03-08 09:58:32 PM  

Chemlight Battery: almandot: Pocket Ninja: I don't wanna grow up
I'm a Toys R Us kid
They've got the best
for so much less
you'll really flip your lid
From bikes to trains
to video games
it's the biggest toy store there is
Gee Whiz!
I don't wanna grow up
'Cause baby if I did
I couldn't be a Toys R Us kid.

I'm not sure exactly what it means that this entire song still resides strongly enough in my memory that I could type it out without any hesitation right now.

I was in the "there's a million things at toysrus that I can play with" generation I think. But man I miss the massive wall-o-Nintendo-game-slips era.

Toys R Us is the only place I ever saw a VirtualBoy in real life. They had one of those trial setups with Wario Land. So many memories. I must have played that thing for two whole minutes. Which I think is probably a VirtualBoy world record.


They made a game besides tennis?!?
 
2018-03-08 10:02:01 PM  

runwiz: Asset stripping at its finest by the great vulture capitalists.  They were doomed as soon as they were loaded with insurmountable debt.  This story has been and will continue to be repeated.


Sadly this is true and that said it should be outlawed.
 
2018-03-08 10:04:04 PM  

dericwater: FormlessOne: dericwater: Catlenfell: I don't think these Bain fellows are much good at business.

They made well for themselves. Their goal isn't to create a good business through the acquisition of an existing company. Their goal is to milk that acquisition for all they can get before dumping the shell of the corpse out by the harbor.

Vampire Capitalists.

I believe the term is vulture capitalists. But that might be going after dying companies. Vampire capitalists may go after companies that aren't dying, then drain them of their life force. So maybe you're right, depending on whether Toys 'я Us is/was a going concern.


It's that debt thing. They load the company with debt, but who the hell is giving credit to firms with visible leeches attached to their upper reaches? I know, some companies come back from the private equity companies in better looking shape after being stripped and remade, but they've eaten a lot of credit over the years.
 
2018-03-08 10:25:40 PM  
"What the hell? Toys R Us is closing down? I mean come on!"

My nine-year-old son thought this was worthy of an angry rant on the internet.  It needs a little more length, but for a first attempt at an angry internet rant, it's not bad.
 
2018-03-08 10:33:02 PM  

dumbobruni: Tanqueray: gingerjet: The company has not had a profit since 2013 but lets blame Bain anyways.

Well, since Bain started stripping assets in 2005, uh, yeah.

and TRU's losses since 2013 are the result of Interest payments on debt

Toys "R" Us generated $11.5 billion in sales in 2016. And though the company hadn't reported an annual profit since its 2013 fiscal year because of interest payments, its operating income had risen 22 percent, to $460 million

https://www.bloomberg.com/news/article​s/2018-03-08/toys-r-us-said-to-be-prep​ping-liquidation-of-u-s-operations


Sounds like the corporate equivalent of a payday loan.
 
2018-03-08 11:11:41 PM  

almandot: Pocket Ninja: I don't wanna grow up
I'm a Toys R Us kid
They've got the best
for so much less
you'll really flip your lid
From bikes to trains
to video games
it's the biggest toy store there is
Gee Whiz!
I don't wanna grow up
'Cause baby if I did
I couldn't be a Toys R Us kid.

I'm not sure exactly what it means that this entire song still resides strongly enough in my memory that I could type it out without any hesitation right now.

I was in the "there's a million things at toysrus that I can play with" generation I think. But man I miss the massive wall-o-Nintendo-game-slips era.


I assume the old Nickelodeon Toys R US Toy Run had a rule against loading up your cart with those slips because I have no idea why chumps would be wasting time loading comically oversized teddy bears into a shopping cart instead of throwing all the slips in and selling off the haul.
 
2018-03-08 11:33:35 PM  

wildcardjack: dericwater: FormlessOne: dericwater: Catlenfell: I don't think these Bain fellows are much good at business.

They made well for themselves. Their goal isn't to create a good business through the acquisition of an existing company. Their goal is to milk that acquisition for all they can get before dumping the shell of the corpse out by the harbor.

Vampire Capitalists.

I believe the term is vulture capitalists. But that might be going after dying companies. Vampire capitalists may go after companies that aren't dying, then drain them of their life force. So maybe you're right, depending on whether Toys 'я Us is/was a going concern.

It's that debt thing. They load the company with debt, but who the hell is giving credit to firms with visible leeches attached to their upper reaches? I know, some companies come back from the private equity companies in better looking shape after being stripped and remade, but they've eaten a lot of credit over the years.


In the days when Treasury Bonds are paying 1%, a corporate bond paying 8% is very attractive to pension funds.
 
2018-03-08 11:41:54 PM  

Gavenger: Pocket Ninja: I don't wanna grow up
I'm a Toys R Us kid
They've got the best
for so much less
you'll really flip your lid
From bikes to trains
to video games
it's the biggest toy store there is
Gee Whiz!
I don't wanna grow up
'Cause baby if I did
I couldn't be a Toys R Us kid.

I'm not sure exactly what it means that this entire song still resides strongly enough in my memory that I could type it out without any hesitation right now.

That your a Giraffe?


My mom was literally the giraffe for a Toys R' Us in high school, so I'm getting a kick yadda yadda....
 
2018-03-08 11:55:30 PM  

Tozmo: Dave Brandon is the CEO. Dave Brandon is the worst. Destroyed Michigan athletics for a while, may have or may not have turned Dominos into what it is now. And killed Toys R Us in what was an impossible job nobody could have fixed without a lifeline


But did he get rich in the process?
 
2018-03-09 12:43:18 AM  

Kuta: Tozmo: Dave Brandon is the CEO. Dave Brandon is the worst. Destroyed Michigan athletics for a while, may have or may not have turned Dominos into what it is now. And killed Toys R Us in what was an impossible job nobody could have fixed without a lifeline

But did he get rich in the process?


Destroyed Michigan athletics you say?  So he's not all bad.
 
2018-03-09 03:08:29 AM  

Pocket Ninja: I don't wanna grow up
I'm a Toys R Us kid
They've got the best
for so much less
you'll really flip your lid
From bikes to trains
to video games
it's the biggest toy store there is
Gee Whiz!
I don't wanna grow up
'Cause baby if I did
I couldn't be a Toys R Us kid.

I'm not sure exactly what it means that this entire song still resides strongly enough in my memory that I could type it out without any hesitation right now.


This is the commercial I remember (because I'm so damn old):

Group of kids: The world's biggest toy store is Toys R Us
The biggest selection, Toys R Us
Woman:  Bikes and trikes and wagons you can trust
Man:  A telescope for learning
Geoffrey the Giraffe: Toys R Us!
Group of kids: The world's biggest toy store is Toys R Us
The biggest selection, Toys R Us
 
2018-03-09 08:35:36 AM  
In the meantime, if you hear Deval Patrick (former MA GOV and now part of Bain Capital) making noises of running for President, run run RUN away.. Their Double Impact programs promise to fark over social-impact companies as well as companies like TRU and IHateRadio (why haven't they died yet?)
 
2018-03-09 09:25:22 AM  
It is a shame. The entire world is moving away from the brick and mortar experience and this is just another brick that has fallen out of the wall.
 
2018-03-09 10:40:29 AM  

dumbobruni: Tanqueray: gingerjet: The company has not had a profit since 2013 but lets blame Bain anyways.

Well, since Bain started stripping assets in 2005, uh, yeah.

and TRU's losses since 2013 are the result of Interest payments on debt

Toys "R" Us generated $11.5 billion in sales in 2016. And though the company hadn't reported an annual profit since its 2013 fiscal year because of interest payments, its operating income had risen 22 percent, to $460 million

https://www.bloomberg.com/news/article​s/2018-03-08/toys-r-us-said-to-be-prep​ping-liquidation-of-u-s-operations


I wonder if gingerjet stuck around to see how wrong he was, and if he actually learned anything as a result.  Probably not.
 
2018-03-09 12:35:37 PM  

lovelorn: It is a shame. The entire world is moving away from the brick and mortar experience and this is just another brick that has fallen out of the wall.


It's going to suck, as there's one a few blocks away from my house and my wife and I take our 3 year old to it from time to time to let her pick out a new toy.  This last weekend with the high winds we went over to grab a couple kites, something you can't do with Amazon.
 
2018-03-09 06:19:46 PM  

wildcardjack: It's that debt thing. They load the company with debt, but who the hell is giving credit to firms with visible leeches attached to their upper reaches? I know, some companies come back from the private equity companies in better looking shape after being stripped and remade, but they've eaten a lot of credit over the years.


The same reason why shady buy-here-pay-here car lots still function. You set up a bastard of a contract. If they pay it off completely, you make a huge profit. If they make enough payments to recoup your principle, everything else is gravy AND you get the car back after repossession. Same general concept. If you get $1100 on a thousand dollar loan, does it really matter if the loan goes into default for the remaining $3900?

Then you can write off the bad debt and go for loss harvesting - like the President did in his real estate deals.
 
2018-03-09 09:01:31 PM  
The bankrupt chain has sold what remains to a group of African-American investors who plan to rename it We B Toyz N shiat.
 
2018-03-09 10:53:45 PM  

Chemlight Battery: almandot: Pocket Ninja: I don't wanna grow up
I'm a Toys R Us kid
They've got the best
for so much less
you'll really flip your lid
From bikes to trains
to video games
it's the biggest toy store there is
Gee Whiz!
I don't wanna grow up
'Cause baby if I did
I couldn't be a Toys R Us kid.

I'm not sure exactly what it means that this entire song still resides strongly enough in my memory that I could type it out without any hesitation right now.

I was in the "there's a million things at toysrus that I can play with" generation I think. But man I miss the massive wall-o-Nintendo-game-slips era.

Toys R Us is the only place I ever saw a VirtualBoy in real life. They had one of those trial setups with Wario Land. So many memories. I must have played that thing for two whole minutes. Which I think is probably a VirtualBoy world record.


I have one.  They flopped miserable and there was a time when you could go buy one for about $18, which is what I did.  In fact, some places would just give you another one just to clear up space.  For what it was, it's really a cool game.  What I liked about it was that it was very immersive.  You really were in your own headspace world.  Every now and then I'll break mine out again and knock out a game of Wario World just to feel like it's 1997 all over again.
 
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