When it comes to toys, there is one place people in the United States usually go to every single time, and that is Toys R Us. However, last March, the biggest toy store in the country filed for a motion to liquidate or having to close or sell their remaining stores, after filing for bankruptcy last year.
Who would have thought that this toy store would actually be in so much debt? They are, after all, one of the biggest companies to actually sell toys in the country. They even have almost 800 stores all over the United States. It was in the 90s when the toy store become such a huge hit, but then stores like Walmart and Target started selling more and more toys that they could no longer pick up. However, this is said to be not even the reason why they had to close, it is still out on debate as to what exactly went wrong and who’s exactly to blame for it.
https://twitter.com/ToysRUs/status/1012354175978606592
Goodbye Toys R Us
Toys R Us first opened back in 1948, wherein its original name was Children’s Bargain Town and since they change the name into Toys R Us, the business had definitely reached its peak. Unfortunately, the world is evolving and they couldn’t adapt to it. They got left behind by other stores such as Walmart, Target, and even Amazon and this then led to their end.
https://twitter.com/ToysRUs/status/1006351135219777538
However, there is one question that people seem to be so curious about, and that is what would happen to the 30,000 people who have been such loyal workers for the toy store.
Unfortunately, based on reports, the employees wouldn’t get any paying severance despite losing their job once all the stores get shut down. The company managed to get millions out of the filing of bankruptcy, so it was kind of a shock when their employees didn’t get anything.
Technically, there isn’t a law that would require private companies to give compensation to their employees during bankruptcy, which is why some lawmakers are now looking into this and may soon create a new rule that would benefit the workers. Some of the workers of Toys R Us met up in New Jersey, which is where it is based, and they were trying to push for a severance pay.
They are also looking into putting up a claim in bankruptcy court sometime this week, so they could get the compensation that they deserve. They are even supported by some advocates from the Center for Popular Democracy.
According to New Jersey Senator Cory Booker, who has been the one helping these employees, said that it is devastating for America to lose one of its greatest companies, and so the bosses are now walking away and leaving their loyal workers with nothing despite how much hard work they have out on to their stores.
Its executives were actually awarded $8 million when it comes to bonuses and their chief executive, Dave Brandon got $11.25 million in compensations. So far, the employees are literally left with nothing but memories.
The unknown person bought $1 million worth of toys
$1 Million Worth Of Toys
That may be such a not so good news for the employees, but here is a good one that could literally be an inspiration to all. Since the company is now just waiting for their toys to be all gone before finally closing its doors, an anonymous person just spent a million dollars worth of toys.
It happened in North Carolina and the report says that it was actually the last day that the store would be open and so this person decided to get toys that cost her a million and donated them to local children.
This random act of kindness is truly inspiring, not everyone may have this much money to spare but those who have them are most likely keeping it for themselves anyway. It is rare for someone to stay anonymous when it comes to donating and doing all charitable work.
People who are rich and famous tend to always want to make sure that people know that they are doing something good for others, which is good but then again, they don’t really have to have others watching if they really are sincere with helping out.
