But even a business model that “remains a compelling proposition over the long term” wasn’t enough to immunize the company from a decline in mall traffic, which fell around 8 percent year-over-year, Huckins said in a court affidavit. The company also had too much debt, costing it $183 million a year alone in interest payments, he said.

18,000 employees, 3,600 locations worldwide. But they're going to restructure this through the help of private equity and then everything is going to be fine. It's going to be just fine.

user-inactivated:

This is just like, the worse. fucking. year.

I was talking to a friend the other day, about Toys R Us closing, and we discussed a bit about how we both share concerns about how the way America pursues materialism and consumerism might not be the healthiest way we go about things. We wondered if there's some kind of unseen light at the end of the tunnel here, what it might or might not look like, and how we'd end up getting there. The thing is, all of this shit's happening so fast, we just don't really know how to take it all in, and shit seems to be speeding up. To the two of us, this feels like a genuine economic crisis unfolding.

posted 2227 days ago