ML Interest Tag: bankruptcy

Payless to Close All North American Stores & Here’s How Long You Have Left to Shop

by Erica Loop

After over half a century of selling footwear at an affordable price, Payless ShoeSource is closing. The low-priced footwear retailer recently announced that it filed for bankruptcy, with plans to wind down shoe sales in all of its 2,500 North American stores as early as late-March.

In a media statement, Chief Restructuring Officer of Payless, Stephen Marotta, said, “We have worked diligently with our suppliers and other partners to best position Payless for the future amidst significant structural, operational and market challenges. Despite these efforts, we now must wind down our North American retail operations under Chapter 11 and the CCAA. ”

Marotta did add that the company’s stores in Latin America and its international franchisee stores (in 16 countries across the globe) will remain open for business.

When can you expect to see your local Payless store’s last day? Some stores may close by the end of March. The remaining stores will continue the liquidation process (in other words—major sale prices for you) through the end of May. Online shoppers already know that the retailer recently stopped taking web-based orders. But you can still buy Payless shoes on Amazon—for now.

As part of its bankruptcy filing, Payless is asking the U.S. Bankruptcy Court for permission to continue honoring gift cards and store credits through Mar. 11, 2019. Customers seeking returns or exchanges need to take action ASAP. If your Payless purchase was made prior to the company’s filing (Feb. 17, 2019) it’s likely that you’ll only have until Mar. 1, 2019 to get your money back.

While this certainly isn’t the way this long-standing footwear giant saw its business going, Marotta added, “On behalf of the entire company, I’d like to express our deep appreciation for the hard work of our dedicated employees and their commitment to Payless customers, who have shown us tremendous loyalty for more than 60 years. We are also grateful for the many years of support by our suppliers and vendors, and we look forward to continuing to work with them to support our remaining operations.”

—Erica Loop

Featured Photo: Rawpixel via Pexels

 

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When Is the Last Day You Can Use Your Gymboree Gift Cards? The End Is Near

by Karly Wood

Head to the mall because the last day to spend those Gymboree gift cards is quickly approaching. Gymboree Group Inc. announced that the last day to use both plastic and digital gift cards for Gymboree and Crazy 8 is Saturday, Feb. 16, 2019.

There has been no official word on store closure dates, but the company has also stated that the last day to make any returns will be Friday, Feb. 1. Once liquidation begins, all sales will be final as the stores close down for good.

Source: Phillip Pessar via Flickr

Gymboree Group filed for bankruptcy protection on Jan. 17 and it was decided to proceed with the closure of all 900 of its stores for the Gymboree and Crazy 8 brands. The closure will hopefully put the focus on preserving the remaining chain, Janie & Jack for years to come.

––Karly Wood

 

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When Is Gymboree Closing? Kids’ Clothing Store Files for Bankruptcy

by Erica Loop

According to recent reports, the fave children’s retailer Gymboree is closing all 900 of their stores. And yes, that includes one of the Gymboree Group’s other store chains, Crazy 8.

Gymboree Group initially filed for bankruptcy in June 2017. With a report of more having more than $1 billion in debt at the time, the company closed nearly 375 stores. Unlike other major retailers, at the time Gymboree was able to get rid of plenty of debt (a reported $900 million!) and come out on top. But alas, the good fortune couldn’t continue, and if a report from The Chicago-Sun Times is accurate, all Gymboree stores could close as early as this week.

Photo: Philip Pessar via Flickr

Earlier this week, The Wall Street Journal broke the news that the company is set to file for bankruptcy protection for a second time. So, what does this mean for all of your local Gymboree, Janie and Jack and Crazy 8 stores? According to a strategic review announcement that Gymboree released on Dec. 4, 2018, the company is in the process of reviewing their options. These options include closing all Crazy 8 stores and “significantly reducing” the number of Gymboree stores in 2019.

Following the strategic review statement, Gymboree’s current CEO, Shaz Kahng, published an online letter to consumers on the retailer’s website. The letter confirmed that the company has decided to file for Chapter 11 bankruptcy protection and will indeed close all Gymboree, Gymboree Outlet and Crazy 8 stores. Kahng also added that the company is trying to preserve the Janie and Jack brand by selling that part of the business.

For more information, read the full statement about Gymboree closing here.

—Erica Loop

 

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Geoffrey the Giraffe Could Come Out of Retirement as Toys”R”Us Stages a Comeback

by Erica Loop

Sorry Geoffrey, we hope you didn’t get too comfortable in retirement, because there’s a chance that Toys”R”Us is coming back. According to reports from The Wall Street Journal, the beloved toy store may not be so dead and gone as we all thought earlier this year. It looks like the Toys”R”Us we grew up with might be reincarnated as something a little different.

If you’re confused, you aren’t alone. The mega-toy retailer famously closed its doors this summer following a downturn in sales, and eventually bankruptcy. Despite this, Toys”R”Us is still poised to make a comeback—we just don’t know all the details of exactly how or when—but we do have some clues.

Photo: Philip Pessar via Flickr

Instead of going ahead with the previously scheduled bankruptcy auction, the controlling lenders decided not to sell off the retailer’s intellectual property assets. This includes the brand names Toys”R”Us and Babies”R”Us, along with the image and character of Geoffrey the Giraffe and multiple domain names.

The group of private equity funds that currently owns the controlling stake in the now-closed toy retailer has a re-organization plan in the works. So what would that look like? Reportedly, the hedge fund funders want to re-launch the brand as a toy wholesale business.

But there’s also this curious tidbit as the The Toy Association’s annual Fall Toy Preview gets underway in Dallas, Texas. Geoffrey the Giraffe has been spotted on the trade show floor! Note what’s on his cape: “Back from Vacation.”

But he’s not carrying his previous “Toys”R”Us” mantel, instead attached to a company called “Geoffrey’s Toy Box.” According to The Toy Book, a leading toy trade magazine, the company has been restructured as Geoffrey, LLC.

Richard Barry, executive vice president of global merchandising at Geoffrey LLC, told The Toy Book that Geoffrey’s Toy Box is a new initiative for the re-organized company. Per The Toy Box:

Barry told The Toy Book exclusively that the company will launch a “shop-within-a-shop” concept, called Geoffrey’s Toy Box, with a prominent regional midwest retailer this November. The concept will feature a train of branded Geoffrey’s Toy Box displays.

Hmmm…curiouser and curiouser! For now, we’ll just have to wait and see what’s next for Geoffrey the Giraffe.

—Erica Loop

 

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How to Check If Your Local Toys”R”Us Store Is Closing

by Erica Loop

According to bankruptcy court documents filed Wednesday by Toys“R”Us, the company is poised to close just over 180 of their U.S. stores. Following a rocky 2017, it looks like the new year hasn’t done much to improve the mega toy retailer’s sales. After declaring bankruptcy last year, the company now needs to close almost one-fifth of their stores as part of its restructuring effort. So which stores are closing? Here’s the complete list of Toys”R”Us store closures (pending court approval).

 

Alabama

2600 McFarland Blvd. East, Tuscaloosa AL

335 Summit Blvd., Birmingham AL

 

Arizona

801 W. 32nd Street, Yuma AZ

12801 North Tatum Blvd., Paradise Valley AZ

9139 Indian Bend Rd., Scottsdale 4619 N. Oracle Rd., Tucson AZ

7000 E. Mayo Blvd., Scottsdale AZ

US 60 and Signal Butte Rd., Mesa AZ

 

Arkansas

2616 S. Shackleford Rd., Little Rock AR

 

California

42500 Jackson St., Indio CA

1189 Simi Town Ctr. Way, Simi Valley CA

26573 Carl Boyer Dr., Santa Clarita CA

960 Lakes Dr., Covina CA

1600 S. Azusa Ave., Puente Hills CA

2575 E. Imperial Highway, Brea CA

530 Westminster Mall, Westminster CA

20120 Hawthorne Blvd., Torrance CA

2550 Canyon Springs Pkwy S., Riverside CA

700 “A” Onstott Rd., Yuba City CA

2785 E. Bidwell St., Folsom CA

1330 Fitzgerald, Pinole CA

4505 Century Blvd., Pittsburg CA

600 Francisco Blvd., San Rafael CA

5461 Lone Tree Way, Brentwood CA

1400 Gateway Blvd., Fairfield CA

3938 Horton, Emeryville CA

2179 Monterey Hwy., E. San Jose CA

865 Blossom Hill Rd., San Jose / Almeda CA

3520 W. Shaw Ave., Fresno CA

31250 Court House Dr., Union City CA

10640 Trinity Pkwy., Stockton CA

3900 Bristol Street, Santa Ana CA

3665 Grand Oaks, Corona CA

1240 W. Morena Blvd., Mission Bay CA

8181 Mira Mesa Blvd., Mira Mesa CA

1990 University Drive, Vista CA

 

Colorado

1150 S. Ironton, Aurora CO

 

Connecticut

376 North Universal Drive, North Haven CT

275 Union St., Waterbury CT

3491 Berlin Turnpike, Newington CT

169 Hale Road, Manchester CT

 

Delaware

1061 N. Dupont Highway, Dover DE

 

Florida

1625 Apalachee Pkwy., Tallahassee FL

1900 Tyrone Blvd., St. Petersburg FL

3908 West Hillsborough Avenue, Tampa FL

6001 Argyle Forest Blvd., Orange Park FL

Spring 708 West State Rd. 436, Altamonte FL

21697 State Road #7, Boca Raton FL

10732 SW Village Pkwy., Port St. Lucie FL

450 South SR 7, Royal Palm Beach FL

2601 W.Osceola Parkway, Kissimmee FL

6001 West Sample Road, Coral Springs FL

3214 N John Young Pkwy., Kissimmee FL

 

Georgia

2601 Dawson Rd., Albany GA

2955 Cobb Parkway, Smyrna GA

6380 No. Point Parkway, Alpharetta GA

1155 Mt. Vernon Hwy., Dunwoody GA

6875 Douglas Boulevard, Douglasville GA

8160 Mall Parkway, Conyers GA

221 Newnan Crossing Bypass, Newnan GA

132 Pavilion Parkway, Fayetteville GA

 

Indiana

3928 E 82nd Street, Indianapolis IN

8800 US 31 South, Greenwood IN

 

Iowa

1211 E. Army Post Rd., S. Des Moines IA

8801 University Ave., Des Moines IA

 

Illinois

1610 Deerfield Rd., Highland Park IL

16 East Golf Rd., Schaumburg IL

295 Center Drive, Vernon Hills IL

5001 Lincoln Highway, Matteson IL

6420 W. Fullerton, Bricktown IL

7750 South Cicero Avenue, Burbank IL

5660 Touhy Avenue, Niles IL

 

Kansas

4646 W. Kellogg, Wichita KS

8500 W 135th Street, Overland Park KS

 

Kentucky

4900 Shelbyville Rd., St. Mathews KY

1155 Buck Creek Rd., Simpsonville KY

1965 Star Shoot Parkway, Lexington KY

 

Louisiana

137 Northshore Blvd., Slidell LA

 

Maine

6 Bangor Mall Blvd., Bangor ME

200 Running Hill Road, Portland ME

 

Maryland

8401 Mike Shapiro Drive, Clinton MD

 

Massachusetts

302 Providence, Dedham MA

70 Worcester Providence Tpk/Rt. 146, Millbury MA

50 Holyoke Street, Holyoke MA

217 Hartford Ave., Bellingham MA

6110 Shops Way, Northborough MA

Shoppers World Plaza, 1 Worcester Road, Framingham MA

 

Michigan

5363 Harvey Street, Muskegon MI

2620 Crossing Circle, Traverse City MI

5900 W. Saginaw Highway, Lansing MI

4923 28th Street South East, Grand Rapids MI

3725 Carpenter Road, Ann Arbor MI

3725 Washtenaw, Ann Arbor MI

 

Minnesota

14100 Wayzata Blvd., Minnetonka MN

170 89th Ave., Blaine MN

8236 Tamarack Village, Woodbury MN

900 West 78th Street South, Richfield MN

 

Mississippi

1003 Bonita Lakes Circle, Meridian MS

200 Bass Pro Dr., Pearl MS

 

Missouri

1901 Bernadette, Columbia MO

201 Silver Springs Rd., Cape Girardeau MO

5590 St. Louis Mills Blvd., Bridgeton MO

220 THF Blvd., Chesterfield MO

 

Nebraska

3505 S. 140th Plaza, Omaha NE

 

Nevada

2150 North Rainbow Blvd., Las Vegas NV

7020 Arroyo Crossing Parkway, Spring Valley NV

 

New Mexico

45 Hotel Circle, Albuquerque NM

 

North Carolina

801 Fairview Road, Asheville NC

7001 Fayetteville Road, Durham NC

3300 Westgate Drive, Durham NC

 

New Hampshire

29 Gusabel Avenue, Nashua NH

 

New Jersey

1280 Rt. 22 & St. James Ave., Phillipsburg NJ

137 Route 35, Eatontown NJ

100 Promenade Blvd., Bridgewater NJ

2700 Route 22 East., Union NJ

909 US Hwy 1 South., North Brunswick NJ

Rt. 541 & Cadillac Road, Burlington NJ

2135 Route 38, Cherry Hill NJ

7 Wayne Hills Mall, Wayne NJ

545 Route 17 South, Paramus NJ

98 Route 10 West., East Hanover NJ

Kids World 900 Center Drive, Elizabeth NJ

50 International Drive South, Mt. Olive NJ

 

New York

139-19 20th Ave., College Point NY

24-30 Union Square E, Union Square NY

5181 Sunrise Hwy., Sayville NY

5214 Sunrise Hwy., Massapequa NY

2335 Marketplace Drive, Henrietta NY

1569 Niagara Falls Blvd., Buffalo NY

401 Frank Sottile Boulevard, Kingston NY

708 Upper Glen St., Glens Falls NY

221 Wade Road Extension, Latham NY

2700 Central Park Ave., Yonkers NY

66 Metropolitan Ave., Middle Village NY

1350 Corporate Drive, Westbury NY

108 Veterans Memorial Highway, Commack NY

461 Lycoming Mall Cir, Williamsport NY

1530 Ridge Rd. West, Greece NY

 

Ohio

6251 Glenway Ave., Western Hills OH

2661 Miamisburg-Centerville Rd., Dayton OH

7841 Mentor Ave., Mentor OH

3610 West Dublin-Granville Rd., Dublin OH

 

Oklahoma

1119 SE 66th St., Oklahoma City OK

5609-E Rogers Ave., Fort Smith OK

560 Ed Noble Pkwy., Norman OK

 

Pennsylvania

100 Welsh Road, Horsham PA

6680 Peach St., Erie PA

3700 William Penn Highway, Monroeville PA

104 Bartlett Ave., Exton PA

2003 Cheryl Dr., Ross Park Mall PA

301 Oakspring Road, Washington PA

18/Valley View Dr., Beaver Valley Route PA

 

Rhode Island

300 Quaker Lane, Warwick RI

 

South Carolina

254 Harbison Boulevard, Columbia SC

 

South Dakota

450 E. Disk Drive, Rapid City SD

 

Tennessee

7676 Polo Ground Blvd., Memphis TN

5731 Nolensville Rd., Nashville TN

 

Texas

801 Mesa Hills Dr., West El Paso TX

9730 Katy Freeway, Houston TX

170 E. Stacy Road, Allen TX

7730 N. MacArthur Blvd, Irving TX

420 E. Round Grove Rd., Lewisville TX

13710 Dallas Parkway, Dallas Galleria TX

1309 W. Pipeline Rd., Hurst TX

5800 Overton Ridge Blvd., Hulen TX

 

Utah

4042 Riverdale Rd., Ogden UT

1122 Fort Union Boulevard, Midvale UT

 

Virginia

14173 Crossing Place, Potomac Mills VA

12153 Jefferson Ave., Newport News VA

 

Washington

3567 N.W. Randall Way, Silverdale WA

1325A S.E. Everett Mall Parkway, Everett WA

6104 N. Division Street, Spokane WA

 

Wisconsin

18550 W. Bluemound Rd., Brookfield WI

2161 Zeier Road, Madison WI

 

What do you think about the store closures? Share your thoughts in the comments below.

—Erica Loop

 

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10 Classic Games Every Kid Should Master

by Emily Myers

The newest and coolest games for kids promise to teach creativity and cooperation, but it’s a rare grandparent who’ll happily sit down to a session of Robot Turtles without asking a dozen questions. That’s where classic games come in. They’re engaging for the whole family but come without long explanations and pages of rules. We found our favorites and shared them below. Talk about winning game night!

photo: Chess4Life

1. Chess
This ancient game of strategy is popular with millions of people around the world. While the individual moves of the chess pieces might be hard for little ones to remember, the goal is simple—to win by trapping your opponent’s king. It’s a two-player game that gets kids thinking deeply and lasts 10 minutes to an hour, depending on experience.

Buy it here.

2. Rummy
Nothing could be simpler than a game of cards, and Rummy involves the fairly easy task of grouping ones that match— something even little ones can do once they’ve mastered actually holding them!  If you’re rusty on the rules it might be because there are dozens of variations, but once the kids have mastered Rummy it’s a quick leap to playing Rummikub which also has a junior version for younger players.

Buy it here.

photo: Emily Meyers

3. Monopoly
Financial ruin is never a good thing, but this game has a popularity that just keeps on growing. Hundreds of cities have their own versions, and it’s printed in at least thirty-seven languages. With a roll of the dice, players hustle to develop properties and charge rent while hoping to be the last to face jail and bankruptcy. Plan on counting up your assets after a certain amount of time or be prepared for the long haul because a game can last for hours!

Buy it here.

4. Pictionary
Thirty years ago, Pictionary brought Charades to the table—with artwork replacing mime. Players of all ages race against the timer to identify what their teammates are drawing. This game is great for big family gatherings as all-age teams can work together to move counters based on the success they have at drawing and guessing.

Buy it here.

photo: Liz West via Flickr

5. Scrabble
This classic word game has players earning points not just for the words created, but where they are placed on the board. For alternative versions, skip scoring and just enjoy watching the words take shape on the board, or team up in pairs to help younger spellers build their vocab. Scrabble’s junior edition involves matching tiles to a pre-written grid, and once the kids outgrow the board, they can flip it over to find the more advanced original grid on the other side.

 

6. Sorry!
Call it Sorry!, Ludo, Pachisi or Coppit, the idea’s the same; players move their pieces around the board trying to be the first to get them all “home.” The name Sorry! comes from the number of times an apology needs to be issued as players trip each other up in the race around the board. Fast and fun, this is a winning game for families.

Buy it here.

photo: Emily Meyers

7. Clue
This compelling murder mystery game is far from scary. Watch the kids turn detective as they try to work out the missing cards and deduce who has done something dastardly in the Clue mansion. Was it Colonel Mustard in the ballroom with the dagger? Younger sleuths might need tips on how to speed up their calculations as the family races to see who will be the first to uncover the details of the crime.

Buy it here.

8. Tiddlywinks
Use your squidger to flip winks and try squopping your opponent in the process (translation: flip plastic coins into a central pot and try to land on your opponents’ coins so they can’t score). Tiddlywinks is at least a hundred years old, and although it might sound confusing (and boasts several Tiddlywinks Associations), it’s easy entertainment for all ages, even if you don’t master the terminology!

Buy it here.

photo: Emily Meyers

9. Connect 4
This 3D Tic Tac Toe on an upright board has been a household favorite for forty years and is still as popular as ever. Two players take turns dropping discs into a grid and try to get four in a row. With instructions this simple it’s no wonder it’s addictive family entertainment.

Buy it here.

10. Checkers
Played on the same board as Chess but with counters instead of pieces, the strategy game of Checkers (or Draughts) is hundreds of years old. Move pieces forward diagonally and capture your opponent’s pieces by leaping over them. Get one of your own counters to the other side of the board and they earn superpowers!

Buy it here.

You’ll Also Love:

11 New Games to Get You Through the Winter

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’90s Board Games You Wish Your Kids Played

Which classic board game is your favorite? Let us know in the comments below.

—Emily Myers

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The Awesome Changes Coming to Toys”R”Us Thanks to That Bankruptcy

by Shahrzad Warkentin

 

photo: Mike Mozart via Flickr

The recent announcement that America’s most beloved toy store is filing for bankruptcy has probably left the Toys”R”Us kids in your family a little bummed. The company is turning lemons into lemonade, however, and is about to change everything you thought you knew about big box retail shopping.

If you grew up a Toys”R”Us kid yourself, then you’ll no doubt remember the company’s famous jingle that promised “a million toys at Toys”R”Us that I can play with.” Pretty soon kids really could be playing with toys right in the store if the idea to change the retail chain’s storefronts goes as planned. According to a report by USA Today, Toys”R”Us is taking this bankruptcy as a cue that changes are needed to stay competitive. The company plans to invest over $200 million over the next four years to overhaul their stores. They will be converting all of their locations into combo stores with Babies”R”Us and transforming them into new interactive spaces.

“Toys”R”Us stores will be interactive spaces with rooms to use for parties, live product demonstrations put on by trained employees, and the freedom for employees to remove products from boxes to let kids play with the latest toys,” CEO David Brandon said in court papers according to USA Today. Just imagine getting the chance to check out that got-to-have-it toy hands-on before you take it home and discover your kids are happier playing wit the cardboard box it came in. The company already began testing this concept over a year ago with prototype stores in California and Florida that featured some of these enhancements.

The company will also be creating an augmented reality game that can be downloaded to customers phones and played while they shop, as well as upgrading their website for better online shopping. They also teased the idea that Babies”R”Us would be transformed into a lifestyle brand. No word on what that means exactly, but the future isn’t looking so bad for Geoffrey after all.

Would you be excited to shop at an interactive toy store? Share your thoughts on these changes in the comments below.

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