Typically we would go in celebration of a great report card or if I had birthday money to spend," he said. One sliver of hope: It said in the filing that it still hoped that 200 stores in the U. could be preserved in combination with its Canadian stores.
Toys R Us said in its filing that its main lenders "have determined that the best way to maximize their recoveries is to liquidate the existing inventory in all ... It said is seeking a buyer for the Canadian operation. An adult customer, Bobby Armes, tweeted that Geoffrey the giraffe played a big role in his kids' lives.
Yet Toys R Us finally was facing a foe it couldn't conquer: discounters like Walmart and online shopping dominated by Amazon. Toys R Us shuttered dozens of stores as it attempted to deal with close to billion in debt that resulted from a leveraged buyout in 2005 by private equity investors Bain Capital and KKR, and real estate trust Vornado.
When the company filed for bankruptcy protection in September, Brandon promised the court, in his opening declaration, that “Toys R Us is here to stay.” Toy manufacturers and lenders who were owed money by Toys R Us, and landlords who owned store properties, backed nearly every request Toys R Us made as it attempted to reorganize.
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The chain, whose chipper mascot Geoffrey the giraffe beckoned families to stores, said poor holiday sales caused its final demise.
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"I remember that Geoffrey would give my children a phone call every year to wish them a happy birthday," tweeted Armes.
"That was special, and it was very appreciated." At a meeting Wednesday with corporate staff at the company's headquarters in Wayne, N.