Deleted
Joined on: Jun 5, 2024 9:51:25 GMT -5
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Post by Deleted on Dec 11, 2008 13:55:30 GMT -5
just heard this that all stores are closing and they are getting rid of everything. Non around me but im sure others have them
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Post by Wrestlaholic on Dec 11, 2008 13:58:37 GMT -5
gOLDberg! gOLDberg! gOLDberg!
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Post by cableV on Dec 11, 2008 14:03:27 GMT -5
I was at one this morning and stuff was 30% off.
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derrtaysouth95
Main Eventer
The End is Nigh....
Joined on: Aug 1, 2007 16:30:30 GMT -5
Posts: 3,948
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Post by derrtaysouth95 on Dec 11, 2008 14:11:27 GMT -5
this does not surprise me after word they ceased selling gift cards last week.
and coming after they closed many stores last year.
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Post by Boy Wonder on Dec 11, 2008 14:11:27 GMT -5
gOLDberg! gOLDberg! gOLDberg! right, that news that just came out today sure is old |
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Post by Y3RP: LA MARAVILLA!!! on Dec 11, 2008 14:19:44 GMT -5
well i'm out of a job  |
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Post by duan on Dec 11, 2008 14:22:06 GMT -5
well i'm out of a job same here dude, same here.  |
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nastynate
Main Eventer
Terry Funk, you aint nothin' but an EGG THUCKIN' dawg!
Joined on: Mar 11, 2008 21:55:54 GMT -5
Posts: 2,170
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Post by nastynate on Dec 11, 2008 14:47:06 GMT -5
is this 100 percent confirmed? or just more "guesses" and "speculation" like the last few days?
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ChrisRiddle
Main Eventer
Joined on: Jan 21, 2007 16:31:42 GMT -5
Posts: 3,034
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Post by ChrisRiddle on Dec 11, 2008 14:50:14 GMT -5
It was just reported on Fox News, they filed Chapter 11. They just built a brand new  ing store in the mall here too |
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Post by KeBen Owens on Dec 11, 2008 14:53:13 GMT -5
This is what I found on wikipedia, looks like they've had a history of financial problems.
Financial trouble
Due to increasing competition from national discount chains such as Wal-Mart, on January 14, 2004, KB Toys filed for Chapter 11 bankruptcy protection and closed 365 stores.
In 2005, Big Lots and a group of creditors, including toy makers Hasbro and Lego filed a lawsuit against top KB Toys executives, which claimed that KB Toys executives improperly paid themselves over $121 million, while ignoring debts and closing stores. The executives responded that they had done nothing wrong, and the store closings, layoffs and debts were the product of intense competition with big box retailers such as Wal-Mart and Target. The lawsuit was later settled for pennies on the dollar.
In 2007, KB closed 156 stores on November 8th. The Gordon Brothers Group handled the liquidation of these stores. Managers were promised a minimum of four weeks severance pay upon completing their service through liquidation.
On December 11, 2008, KB Toys again filed for Chapter 11 bankruptcy protection, three years after exiting previous court protection.
-BEN
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Post by The-Rock on Dec 11, 2008 15:00:03 GMT -5
This is what I found on wikipedia, looks like they've had a history of financial problems. Financial trouble Due to increasing competition from national discount chains such as Wal-Mart, on January 14, 2004, KB Toys filed for Chapter 11 bankruptcy protection and closed 365 stores. In 2005, Big Lots and a group of creditors, including toy makers Hasbro and Lego filed a lawsuit against top KB Toys executives, which claimed that KB Toys executives improperly paid themselves over $121 million, while ignoring debts and closing stores. The executives responded that they had done nothing wrong, and the store closings, layoffs and debts were the product of intense competition with big box retailers such as Wal-Mart and Target. The lawsuit was later settled for pennies on the dollar. In 2007, KB closed 156 stores on November 8th. The Gordon Brothers Group handled the liquidation of these stores. Managers were promised a minimum of four weeks severance pay upon completing their service through liquidation. On December 11, 2008, KB Toys again filed for Chapter 11 bankruptcy protection, three years after exiting previous court protection. -BEN The 2007 one tragically took my KB. They ahd really good figures at $4.99-$5 a piece (like ECW 3, ra 29, etc) when they were still new. I had everyone I wanted from those sets already so I passed. The KB didnt actually close its doors until like almost February as I walked in their like late January and they still had (amongst the like 50 toys left) a few da 10 jbl's and davairis. |
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Post by carly1988 on Dec 11, 2008 15:00:31 GMT -5
Probably just be another mass store closing deal. You can continue on after filing chapeter 11
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Post by cableV on Dec 11, 2008 15:11:39 GMT -5
In addition to closing its 277 mall-based stores, 40 KB Toy Works stores and 114 outlet stores, KB plans to sell its wholesale business, Creative Innovations & Sourcing, which supplies toys to retailers CVS Pharmacy and Supervalu, and home shopping network QVC. The company also operates 30 temporary "Holiday Stores."
KB employs approximately 4,400 full-time workers and more than 6,500 seasonal employees.
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Post by 3Lephant (Naptown Icon) on Dec 11, 2008 15:18:13 GMT -5
Where will we get our Backlash figures then?  |
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Post by "The King" Tony Stewart™ on Dec 11, 2008 15:33:50 GMT -5
That is sad to hear. I know alot of people that work there. I am unemployeed because of a company closing down as well. I feel your pain.
I am not shocked though I must say, especially after the website clearancing UMF and Max Aggression down to 3.99
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Post by ● kaneisdaman ● on Dec 11, 2008 15:39:10 GMT -5
Gee this is pretty tough for you guys since they are one of your main stores. |
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Post by LA Times on Dec 11, 2008 15:48:44 GMT -5
RIP KB Toys |
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Post by jfinnomore on Dec 11, 2008 15:50:47 GMT -5
haven't been to KB in years since the one in the mall closest to me closed.
however i do feel sorry for the folks that have jobs/careers there.
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Deleted
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Post by Deleted on Dec 11, 2008 16:08:49 GMT -5
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T-Phunk
Main Eventer
T-Phunkamania Runnin' Wild!!!
Joined on: Jun 23, 2004 11:32:19 GMT -5
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Post by T-Phunk on Dec 11, 2008 16:21:01 GMT -5
well i'm out of a job If you work there, are you confirming this rumor. You would probably know before anyone else. Hell I knew Linens N Things was going out of business when I left there almost two years ago. At least I had a pretty good idea. Oops, just read the article thechon posted, guess that confirms it. If all the toystores around me keep closing I am going to be up "stuff's" creek. I hate ordering on line, I prefer the hunt. |
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