Why Do Toys R Us Fail
In the UK, Franchises Toys R Us and Maplin (an electrical retailer) are going under as a result of resistance to change/adapt to the modern retail market. Toys R US is set to go into administration in the next 24 hours while talks to redeem Maplin through gaining funds for their crippling debt have collapsed.
More than 5,550 jobs between the two companies to be lost due to this issue, with 3,000 staff specifically from Toys R Us to be lost from the fallout. The 200-store chain of Maplin is officially going bankrupt due to overdue debts and little return in its retail stores, as a result of overbuying stock with little to no credit security and poor sales from its outdated retail format.
The main reason stated for the collapse of the two large chains in the UK is due to not acknowledging and taking advantage of the changing nature of shopping behaviours by the British people.
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Toys R Us tried at the last minute to downsize its franchise across the UK by removing a quarter of its stores and paid less rent for the ones that were able to stay on, but they still struggled to meet payment times and return decent profits. This resulted in the US-lead company to pull out from, the UK altogether.
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