Toys ‘R’ Us files for bankruptcy
As children, each of us remembers pulling out catalogs of toys, games and play equipment when holiday season rolled around, or taking the all-too-exciting trip to the toy store. For many, this toy store was undoubtedly Toys ‘R’ Us. Everything from Nerf Guns to Littlest Pet Shop pets were sold there, and no matter what, the place could bring a smile to your face on even the hardest of elementary school days.
Being the toy enthusiast that I am, I have spent hours over the past 19 years of my life within the hallowed aisles of this chain retailer, and even today I am proud to say that I am still enthralled whenever I walk in.
Recently, however, all has not been well in the world of the happy-go-lucky Toys ‘R’ Us giraffe. Toys ‘R’ Us has filed for bankruptcy as of Sept. 18, according to Michael Corkery of The New York Times. Corkery continues to cite a possible factor contributing to the decline of the company’s profit margin as the ever-increasing popularity of Amazon. In today’s fast-paced and digital world, parents have found it simpler to find toys online, order instantly and have the items shipped directly to their home in time for their children’s birthdays or other special occasions.
Yet another possible reason for the bankruptcy, according to Corkery, is the monumental amount of debt that the company has accumulated over the past years, totaling up to $5 billion. This sum has acted as a ball and chain around the ankles of executives for years. It finally reached a point at which the future of the company came into question, and the burden of the debt could not be avoided any longer.
As for myself, I am extremely saddened by the news of the instability of the company that helped to shape my childhood. To think that future generations may not be able to have a store dedicated to the happiness and enjoyment of children is unbelievably upsetting to those who have known the store’s ability to spread joy through play.
As a future educator, and a witness on many occasions of the power of play and motion in the education of young children, I truly hope that the financial struggles of this organization can be overcome. We need companies like Toys ‘R’ Us to continue enhancing childhoods, both inside and outside of our classrooms.
