Photo Credit: Google Maps
UPDATE: Durham will lose both their TOYS-R-US and BABIES-R-US stores adding to the closures here in North Carolina.
Asheville will soon be without their baby supply megastore BABIES-R-US.
As part of its financial restructuring, the parent company TOYS-R-US recently announced they are closing 180 stories nationwide. We have now confirmed that this includes the BABIES-R-US located in Asheville. A store that has been a staple of East Asheville for decades will be closing their doors for good.
The restructuring may not be the end of BABIES-R-US, or at least that door has been left open. “I do want you to know that this is not just a store closure story, this is about the reinvention of our brands and business, and the continuation of our restructuring process, which started last fall,” TOYS-R-US responded to our inquiry.
What might that reinvention be? It’s hard to tell, but judging from similar industries attempting to compete with online powerhouses like Ebay and Amazon, it will likely be a venture into regional warehouses and a shift into more online sales. Brick-and-mortor locations are struggling that haven’t adapted to the changing times, leaving stores like TOYS-R-US and BABIES-R-US in a tough financial situation.
What should you be aware of? You could be getting your hands on some great deals. “Pending court approval, closing sales will begin in February,” TOYS-R-US added.
That’s a quick timeline for Asheville fans of the baby store. As more develops, we’ll let you know here on Tavern Voices.
TOYS-R-US Press Release:
At Toys“R”Us we are undertaking a financial restructuring to ensure the iconic Toys“R”Us and Babies“R”Us brands live on for many generations. The things customers like the most will not be affected. We continue to offer amazing new products and great customer service, just as we always have. In addition, Toys“R”Us is committed to working with our vendors to help ensure that inventory levels are maintained and products continue to be delivered in a timely fashion.
To achieve our financial objectives, Toys“R”Us and some of our U.S. subsidiaries and our Canadian subsidiary proactively and voluntarily filed for Chapter 11 of the Bankruptcy Code in the U.S. Our Canadian subsidiary also began parallel proceedings under the Companies’ Creditors Arrangement Act in Canada. The Company’s operations outside of the U.S. and Canada, including its approximately 255 licensed stores and joint venture partnership in Asia, which are separate entities, are not part of the Chapter 11 filing and CCAA proceedings.
We are confident that this financial restructuring is the best path forward to ensure that Toys“R”Us can invest in our business, continue to improve our customers’ experience and strengthen our competitive position.