http://consumerist.com/5107696/santas-not-coming-all-kb-toys-stores-to-be-liquidated-and-closed KB Toys has returned to Chapter 11 bankruptcy, says the Wall Street Journal, and will be liquidated by its parent company — Prentice Capital Management. "Going out of business" sales will begin quickly at the chain's 277 retail outlets, 40 larger KB Toy Works stores, 114 outlet stores and 30 temporary "holiday stores." The WSJ says the liquidation was prompted by a 20% decrease in sales in the second half of this year. The article had no information about the fate of KB Toys gift cards (though KB Toys website says they have suspended sales of gift cards for the 2008 season) — a detail that is up to the bankruptcy court. Generally, gift card holders are considered "unsecured creditors" unless provisions are made for the store to continue redeeming the cards.
That's a shame...It would be tough for them to survive with places like Wal-mart, etc selling the same toys but at lower prices... I havne't been to one of those stores in years...
im surprised they lasted this long. Its hard to compete with the big chains and kids are less into the plastic toys and more into TV and video games.
Man thats unfortunate. KB was my favorite store at west oaks mall as a kid. I bought Ronin Warrior figures and Need for Speed there.
I remember paying $69.99 for a copy of Double Dragon (forgot what number) for the SNES when I was a kid at KB.
The big toy store loss was Children's Palace about 15 years ago. It was the only store close to Toys R Us. Am I the only one that doesn't like the redesigned Toys R Us stores? I like the old school, row after row of toys they used to have. It just felt like there were more toys. I'm actually surprised KB made it this long. I thought that they were going out of business several years ago, but most have restructured. There just isn't the demand for regular toys like there was, and they can't compete with game stores or big box retailers for kids' electronics.
Well the writing was on the wall. They sell overpriced toys that can be found elsewhere for cheaper. They deserve to go under for not adapting years ago.
