More Bankruptcy

[SunshineGirl]

Another big company filed for Chapter 11 protection, so we have pulled their links. Their stores include etoys, kbtoys, Baby Universe, and MyTwinn.

Nice to pull this right after Christmas so that they don't have to pay us for all of the sales that we sent them the last two months. :(

http://investor.theparentcompany.com/releasedetail.cfm?ReleaseID=356190

[fourfoxesinpa]

Sorry to hear...is it possible for you to file a POC if the $ is substantial? (Althought it's probably trying to get blood out of a turnip and you might be way down the chain.)

[SunshineGirl]

Sorry to hear...is it possible for you to file a POC if the $ is substantial? (Althought it's probably trying to get blood out of a turnip and you might be way down the chain.)

I'm assuming that our networks that we work with probably would. But from what I have heard, when a merchant files BK, we are such a low priority that we don't stand a chance of getting anything.

[sarah4770]

Yea, I bought my son a game for the wii back in November for Christmas from KB.....I guess I bought the wrong one,...he would rather have another game. The store would not let me return it, so now its on ebay.
Pretty Dirty.

[~Kathie]

Guess they figured they would squeeze all the $$ they could. Pretty underhanded. They must have known this was coming. Sorry we got used.

Question for you Tricia. Do you usually pull an advertiser when they file for bankruptcy or are closing?

When I do a search many items from Linen's n Things come up. Click on it and most items are out of stock or unavailable. PITA to wade through all their stuff in a search. Aren't they closing in a day or 2?

[fourfoxesinpa]

Our B&M L&T closed on Sunday...

[Candi]

I went to the outlet mall yesterday and noticed the KBtoys closing. I wondered what was up. That is not good for us!!

[SunshineGirl]

Guess they figured they would squeeze all the $$ they could. Pretty underhanded. They must have known this was coming. Sorry we got used.

Question for you Tricia. Do you usually pull an advertiser when they file for bankruptcy or are closing?

When I do a search many items from Linen's n Things come up. Click on it and most items are out of stock or unavailable. PITA to wade through all their stuff in a search. Aren't they closing in a day or 2?

Yeah. We should get official notice to close them soon. They are actually putting money aside for the affiliates (unlike the others that I already yanked).

[bartleby1]

I went to the outlet mall yesterday and noticed the KBtoys closing. I wondered what was up. That is not good for us!!

They actually OPENED a kbtoys in our mall right before Christmas and now they are closing all of their stores! I'm guessing it was a last minute way to get rid of some inventory?

[amarazas]

A week before Christmas I noticed that KB Toys had up a "Store Closing" signs up, and they did at the Outlets also.

April told me they were up for a couple weeks or so by then. I really didn't buy a lot of toys there. Target would always be lower, especially during clearance times!

[lanny76]

Another big company filed for Chapter 11 protection, so we have pulled their links. Their stores include etoys, kbtoys, Baby Universe, and MyTwinn.

Nice to pull this right after Christmas so that they don't have to pay us for all of the sales that we sent them the last two months. :(

http://investor.theparentcompany.com/releasedetail.cfm?ReleaseID=356190

I'm not sure I totally understand - I think I bought something in the last 2 months thru KBToys, and saw the credit in my account. So if I saw credit in my account, I thot this would mean you had been paid. So I guess I don't know what you mean by they don't have to pay for the last 2 months of sales. Pardon my ignorance, I just don't know the ins and outs of all this!
Anyway, it is too bad.:(

[askomsky]

Yeah our KB toys around here have had their signs up for at least 2 wks before Christmas that they were going out of business. Like Amy said I very rarely went in there maybe BF morning bc any other time they were way overpriced to begin with.

[fourfoxesinpa]

Add Waterford to the list of companies filing for bankruptcy.

http://www.usatoday.com/money/world/2009-01-05-waterford_N.htm

[chipndale]

I guess the list filing for bankruptcy is going to keep growing and growing. It is such a shame to see all these companies that you have know the name of for years having such financial trouble. Pretty soon there is going to be only a handful of places to shop, eat, or bank.

[m 'n c]

I guess the list filing for bankruptcy is going to keep growing and growing. It is such a shame to see all these companies that you have know the name of for years having such financial trouble. Pretty soon there is going to be only a handful of places to shop, eat, or bank.

Well hopefully we see more Chapter 11's than Chapter 7 bankruptcy's. I also hope the credit markets and equity markets open up a little so that companies can obtain capital to merge or acquire troubled companies so that we don't lose our favorite brands. My office is normally very busy when it comes to debt and equity offerings but we only had one in the last quarter. There just isn't any financing available even for strong companies.

[mollyeilis]

Well hopefully we see more Chapter 11's than Chapter 7 bankruptcy's. I also hope the credit markets and equity markets open up a little so that companies can obtain capital to merge or acquire troubled companies so that we don't lose our favorite brands. My office is normally very busy when it comes to debt and equity offerings but we only had one in the last quarter. There just isn't any financing available even for strong companies.

And in that spirit, what is very interesting to me is that JUST before kbtoys announced the store closings and their website closing, they opened a webstore on amazon.com. There has been nothing stated about them closing that webstore there, so I can't help but wonder if that is their way of reorganizing...it's quite smart for stores to open on amazon, so that they can deal with the customer service, fulfillment, and all those other really expensive things.

Of course, it doesn't get us as individuals credit, but it's a good move for stores! (not that borders, BRU, or TRU ended up thinking so, but that's just b/c they didn't read their contracts to begin with, LOL)

[sunshinecindy]

Our local tv station went into KB toys while they were having their big liquidation sale and found tags put over the originals for a lot more then the original price, so you weren't really getting 50% at all.

[m 'n c]

Our local tv station went into KB toys while they were having their big liquidation sale and found tags put over the originals for a lot more then the original price, so you weren't really getting 50% at all.

I've heard about that happening before with retail and sales in general (bankruptcy or not). I try to take mental notes on things I want to buy and check before buying during a sale. Doesn't always work but sometimes I catch something that isn't really a "deal"

[jnorth1007]

I found this happening at the KB Toy outlet in Gulfport. I bought te kids costumes and after paying I went back because I was expecting them to be cheaper and when I checked the one I had looked at had the higher priced tag removed so that when I grabbed the right size on the Jasmine it had a much higher price and that is what I got the discount on. I returned it of course. Just crazy.

[sammielynn]

Three East Tennessee companies announced today that they will be closing. Goody's Family Clothing, Alcoa and Sea Ray, very sad.

[lanny76]

Goodness - tough times all around. It's too bad to hear about all these companies having trouble. I hope for more Chap 11's than other kinds, too.
I just hope Old Navy stays afloat - if they went under I'd have to find some other favorite place for the kids' clothes. As it is, I think I may be helping them with all the orders I seem to be placing!:D

[askomsky]

Doesn't surprise me at all with KB, again I only ever bought there on BF morning and if it was a deal they were always overpriced on their toys compared to Target and TRU.