Tuesday in CE: Toys R Us Files for Chapter 11 Bankruptcy Protection
After months of speculation, Toys R Us announced on Monday evening that it will file for Chapter 11 bankruptcy protection. The leading (and only major national) toy retailer made the move as it looks to restructure its $5 billion in debt that it owes as a result of a leveraged buyout that happened over a decade ago.
According to CNBC, the filing will allow the company and its trio of owners to restructure $400 million in debt due in 2018, another $1.7 billion owed in 2019, and then renegotiate the remaining balance.
An important note about the filing is that Toys R Us will continue to keep open its 866 Toys R Us and Babies R Us stores here in the U.S. along with their other licensed and franchise locations around the world. In a statement, the company said that the physical retail locations are not a part of the bankruptcy filing. That’s a crucial aspect for Toys R Us as it heads into the all-important holiday shopping season, which accounted for roughly 40 percent of the company’s sales last year.
The filing aside, it’ll be interested to watch how the retailer emerges from this mess of a situation, which has become an all-too-familiar one in retail right now. Ecommerce and Amazon have done a number to major brick and mortar retailers this year (with a few exceptions), but how Toys R Us decides to move forward and what type of strategy shift they embark on will be critical to the retailer’s future.
— Bloomberg Technology (@technology) September 19, 2017
This planet has a massive love-hate relationship with batteries. We hate them because they seem to die on us in the most critical times of need. But we love them because they power all of our most important devices—smartphones, tablets, computers, and so on. If there’s one feature that carries more weight in the consumer tech shopping experience (physically and literally) it’s battery life.
We can’t get enough battery life.
The problem with batteries, though, is that they are super expensive compared to other forms of power. But, as Bloomberg recently reported, better batteries might be on the way.
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