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Old 2018-03-09, 04:18 PM   #2
Warcry
Likes Beast Wars toys. A lot.
 
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Winnipeg, Manitoba, Canada
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That's awful but not unexpected. "Buy" a company using the bank's money, download the debt onto the company once you own it and drain every cent of profits out of it that you can instead of paying back the money you borrowed, then act surprised when your business goes under? Totally legit! The employees get screwed, the customers get screwed, the suppliers get screwed, the groups that loaned you the money in the first place get screwed...but Mitt Romney and co. get to walk away a few billion dollars richer instead of winding up behind bars where their ilk belongs. Because somehow using someone else's money that you never intended to pay back to wilfully destroy a healthy company while you extract everything of value is perfectly legal. Capitalism at it's finest!

****ing vultures.

The Canadian division is both profitable and mostly debt-free, and apparently they say that it's "business as usual" and they have no plans for liquidation. I hope they manage to stay afloat but I'm not optimistic about their fate if the US branch goes under. Maybe they'll get sold to local ownership who'll keep the brand going? Or maybe TRU will just abandon the US and the UK and try to keep going with Canadian, Australian and Asian outlets? I don't know how that would effect their partnerships with manufacturers, though. Even though China and southeast Asia have become more of a focus for Hasbro and co. over the last decade, I can't see TRU getting much exclusive product (which was the one big thing they had going for them lately) without a US footprint.

At least you Americans will still have multiple outlets you can buy from if TRU goes under. If TRU Canada closes we're down to Walmart as the only major retailer that still has a legit toy department. Hell, it's practically the only real "department store" left too, since Target died a few years ago, Sears just finished shutting down and Superstore has retreated from being a real department store to become 80% groceries, and The Bay's footprint has drastically shrunk. Giant Tiger is a joke and London Drugs is more of a Walgreens sort of thing at best.
 
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