Looks like it IS time to grow up. Toys-R-Us going bankrupt?2017-09-19
It looks like the end of an era for kids, parents and retailers in Canada. News reports indicate Toys-R-Us – the iconic toy store that has dominated the landscape for decades is in serious financial trouble.
The company recently filed for bankruptcy protection in the United States and that action is expected to happen in Canada as early as this week.
So how could this happen? It’s not as if there are fewer kids? It’s not as if is consumers are buying less?
Is this a matter of convenience, online shopping, people opting not to go to stand alone stores? Are retailers and vendors missing the mark on how to market to moms, dads and kids especially.
With more than 30 Toys and Babies-R-Us locations in Ontario with one locally in Sudbury in trouble and Sears already teetering on the brink of financial calamity – what will this mean for the struggling retail community and what does it need to do to turn itself around?
That’s where the experts from Cambrian College can help.
Nancy Griffin is a professor and the Program Coordinator for Cambrian College's Public Relations program. She has spoken many times with media regarding branding, marketing and what makes for solid public relations in the world of business. Nancy is available to speak to media at any time - simply click on her icon to arrange an interview.