The bad news for fans of certain big chain toy stores fronted by giraffes keeps rolling in. After filing for bankruptcy and taking on a $3.1 billion loan to keep stores open during corporate restructuring, anonymous insiders have told Fortune that the company’s outlook has become grim in the past few days.
A buyer has not stepped forward, and lenders have not agreed on any sort of debt restructuring. As a result, it is becoming increasingly likely that the U.S. branch of the company will be liquidated, leading to the closure of all U.S. stores. Fortune also reports that the international branches are having just as many problems, with the company’s only successful branch – Asia – in talks to be offloaded.
While this may be yet another nail in the coffin of traditional retail, perhaps we can at least look forward to one last crazy fire sale. Amiibo for all!!!
All joking aside, we know this is an uncertain time for employees, and wish them all of the luck no matter the outcome. It’s always terrible when corporate shenanigans affect everyone who depends on them. We’ve got your backs!