KB Toys to Close Stores in Chapter 11 Bankruptcy

Bad economic times continue to impact the toy world today as KB Toys retailer has filed for Chapter 11 bankruptcy protection and will begin closing its retail stores.

KB intends to close its retail stores — consisting of 277 shopping mall locations, 114 outlets, 40 KB Toy Works stores, and 30 holiday stores — and sell its wholesale distribution business.

According to the New York Times, representatives of KB said that these actions are due to "a sudden and sharp decline in consumer sales due to macro-economic concerns,"

Look for going out-of-business sales to start immediately.

Source: Berkshireeagle

Member Comments...

Last 10 comments - ( Read All Posts )
AutobotMaximal - 2008-12-15 @ 3:34 pm

Their big "going out of business" sale isn't that impressive either. It pretty much just brings the price of anything back down to what you'd pay elsewhere. It sucks to see the ol' KB go though.

sertile - 2008-12-15 @ 3:30 pm
Indeed, time for a little Haiku:

KB your aisles not loved

Below MSRP was not your friend

Can't pay your bills

M-S-R-P are all seperate syllables, FWIW.

And I would be upset if I were still interested in buying Sega Genesis games, Skeleton Warriors, Robocop, Hercules and Xena figures, and/or knockoff Exosquad toys from the early 90's, but fortunately I'm not.

Nomolos - 2008-12-15 @ 1:08 pm
do you know that the employees clean up the store? maybe its the little bastards you squeezed out of your stomach that farged up the store.

p.s. I WORK THERE MOTHER fargER!

so you get paid to clean up after "those little bastards". maybe your attitude and people like you about kids helped keep people out and contributed to the problem. congratualations! you won't have to work around kids much longer. :thumb. but hey, I'm sure both of KB's customers can find stuff elsewhere.

Devil Mazinkaiser - 2008-12-15 @ 11:52 am
p.s. I WORK THERE MOTHER fargER!

I would never have guessed... and it sounds like you really loved your job and your customers after reading your post. :roll

Perhaps you should spend your time looking for a new career, instead of blasting people who are expressing their opinions about a company that at the end of the day, wouldn't be defending YOU if people were saying things about your failures in life.

By the way, my experiences at KB have always been favorable, minus the price markup on their stock. I am sad to see them close, because it gave me a place to look around while my wife goes "shop-crazy" at the mall. :argh

HEROESofSPARTA - 2008-12-15 @ 10:11 am
Dude, everytime I walked into one of those 'things', it looked like my son & his little friends had ransacked the place...oh wait, that's what was happening! And KB never bothered to clean up...just left s%*t all over the floor...that's no way to run any kind of store!

do you know that the employees clean up the store? do you stalk them? maybe its the little bastards you squeezed out of your stomach that farged up the store.(duh) you dont know shot so SHUT THE farg UP&GET THE farg OUT!

p.s. I WORK THERE MOTHER fargER!

ZedzDead - 2008-12-13 @ 3:00 pm

i remember Kay bee selling cyb basics for 13.99. they can go the way of the doe-doe for all i care. TRU gets on my nerves too w/ their 1.25 mark ups.

Police_Box_Traveler - 2008-12-13 @ 7:00 am
Indeed, time for a little Haiku:

KB your aisles not loved

Below MSRP was not your friend

Can't pay your bills

AWESOME! That haiku totally sums it up nicely!

When you have so little stores as it is, this kinda sucks. But its expected, they have been shutting down for years all around me. The only Kbay store in my area left is in Rutland, i do end up getting stuff there that doesnt come elsewhere. Imo, it will be missed.

Its Walmarts fault. They took ALL their business.

I seem to recall KB selling any and all their stock at a standard $2 mark up to Toys R Us and Wally World as a general thing. They could easily have kept their prices lower and been better competition but they deliberately didn't. As I recall, there was a VP that initiated the mark up and he wound up burying that store in it's FIRST mass store shut down. They seemed to learn from their mistakes but then they started to sell their items at higher costs again.

I myself, being a child of the 80's will always remember fondly the days when KB had wonderful stock of varied toys and cars. I can still remember going there as a kid and looking at the Star Wars toys. My first game system, an Atari was bought there, as was my first Nintendo. It's a shame that the company was handled so poorly in these last...10 years of over priced stock, unmoving stock (i can STILL buy the old x-men toys there XP) and GHASTLY music pumped in over the loudspeakers (which i still think is the reason the stores are always empty) I'll always remember the good times with that store, as well as the times i just REALLY wanted to get the F@#* out of there because of the music.

I say they brought it on themselves. Wal Mart only sold the exact same items closer to the suggested retail price as does Toys R Us and Target. If KB couldn't get with the program, then they deserve this horrible death their company is getting. Maybe, someone will buy them out and restructure their stores to the way it used to be and make a good store that sells items at reasonable prices. It would be nice since many close out items wound up on their isles and there are great deals to be had at those stores.

R.I.P KB Toys! May you some day rise from the grave as a zombie KB Toys and sell cool items at COMPETITIVE prices and not play obnoxious Kidz Bop muzak ever again....or at the very least stay in your grave and rot for the rest of eternity.

Slayer58 - 2008-12-12 @ 8:56 pm
isn't this like the 3rd time Kaybee has filed for chapter 11?

Yeah seriously.

I don't particularly care anymore about KB ever since the one closest to me shut it's doors and became yet another clothes store (at least it's not another starbucks). I've always had better luck with the ones in the mall/strip malls. They actually had crap at retail prices. I generally never went in there ever for TF's, it was usually just Hot Wheels. Although if they have Sharkticon I might just have to make a trip out there to see if they have em.

Ardenrobo - 2008-12-12 @ 7:57 pm

THAT'S what I thought too !!!

Went to the mall and cleaned them outta Sharkticons :) They had a "Buy 2-Get 1 Free" sale on all Transformers. You can mix+match, get 3 and the cheapest is FREE.

Markticon.

OMG! Have to run there and get an army of energon Sharkticons!
ronimus - 2008-12-12 @ 1:09 pm

:tfgrin got lucky and bought my sharkticon army at dollar tree and big lots,7 bucks each

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