How Will Bankruptcy Affect Hudson Valley Toys R Us?
The rumors have turned out to be true, Toys R Us has declared bankruptcy. But how will that affect their four Hudson Valley locations?
Business Insider reports the bankruptcy filing could come as early as Monday. The company is saddled with nearly $5 billion in debt, with a reported $400 million payment due next year. Approximately 40% of Toys R Us 2016 revenue was during the holiday season, so the next few months will be critical for them.
To be clear, a bankruptcy doesn't necessarily mean they will close stores but will certainly change how things are done at the countries biggest toy supporter. The four Hudson Valley locations that could be potentially affected are:
- Monroe-Woodbury Commons Outlet
Here's a question: more and more kids are gravitating toward tablets and smartphones. How much is this hurting the toy industry, or is online shopping the culprit? Stiff competition doesn't help either. Amazon is now the nations second largest toy retailer behind Walmart.