Pretty much everyone has a fond memory of Toys 'R' Us. Growing up, it was the place everyone wanted to go. It was heaven for children!
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Even if you knew darn well that your parents weren't going to buy you anything. It was worth it just to browse and look at all the toys you knew you'd be dreaming about that night.
Unfortunately for all of us and future generations of children everywhere, the Toys 'R' Us company isn't doing so hot right now. Actually, if we're being real they're doing pretty badly.
They're having problems competing with online shopping and mobile games. so, because of this, the company has tons of debt.
Toys R' Us has already closed down in the UK and is most likely going to be selling off the businesses in Australia, France, Poland, Portugal, and Spain. It's falling off the face of the earth!
The only stores that seem to be doing okay are the ones in Canada. Yay us! Thank goodness Canadian children are buying toys. Who would want to see this company go down? Its purpose is to bring joy to children.
However, for the benefit of the company as a whole, Toys 'R' Us plans to sell their 82 stores across Canada. Right now, separate from the US, Canadian operations are doing just fine.
But US operations, given their upcoming closure, is trying to get in on the Canadian business. Toys 'R' Us CEO David Brandon wants to combine Canadian stores with 200 American ones while they're looking for a new buyer. However, they are still selling or closing all 740 stores in the US.
In order to keep the company up and running, they also plan to make it into a much smaller operation. Less risk, less chance of failing right? Let's hope Toys 'R' Us can pull through, for children everywhere.