A defunct brick-and-mortar toy store that opened in June 1957 in D.C. They had a million toys at Toys “Я” Us that I could play with. From bikes, to trains, to video games, it was the biggest toy store their was. Its hay day was in the 80s, when it dominated the toy industry. Toys “Я” Us started to decline in the late 90s, when online websites such as Amazon were launched and sold toys more conveniently and at a lower price. Charles Lazarus, the store’s founder, sold it to Bain Capital and Kohlberg Kravis Roberts, along with the real-estate firm Vornado Realty Trust in 2005, for $6,600,000,000. Many people mark this as Toys “Я” Us’ official beginning of the end. The purchase meant that the toy chain was now $5,000,000,000 in debt, and struggled to pay it off for the next 12 years. On September 18, 2017, Toys “Я” Us filed for Chapter 11 Bankruptcy Protection, hoping to turn around the business. However, after a horrible holiday season in sales and the debt problem not improving, on March 14, 2018, Toys “Я” Us announced it would liquidate all 735 of its US stores by the end of June. Finally, on Friday, June 29, 2018, at 9:00 P.M., the last stores were locked up for good. The beloved toy chain was officially gone.
by DeSantis2024 March 23, 2022
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by TheCarDudeA8 April 24, 2020
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