Generations / NewsBusiness Insider reports that the letter sent to all ToysRUs employees explaining the company's current state and laying out their lack of severance has set a timetable for the closing of stores and warehouses. Though only some states have reported in, it seems that target date for the end of ToysRUs is May 14 in states ranging from Wisconsin to Hawaii. Keep reading for more details.
The company has notified workers that stores and warehouses in several states — including Wisconsin, New Jersey, Missouri, Hawaii, and Georgia — will shut down by May 14, according to WARN Act filings reviewed by Business Insider.
The WARN Act, or Worker Adjustment and Retraining Notification Act, requires companies with 100 or more employees to provide advance notice of mass layoffs.
Liquidation sales at some of the affected stores will start as soon as Thursday, according to Toys R Us store employees reached by phone on Monday. One employee told Business Insider that stores were told they would close as soon as all of the merchandise was sold.
ToysRUs also cited "disappointing" holiday sales as part of the reason for the bankruptcy - though the sales were apparently looking good enough as of late November to justify $16 Million worth of bonuses to 17 of the company's top executives. We are uncertain what severance these men will receive, but we are certain it is more than zero.
Generations / NewsDon't hold me too this as, I can't see more of Prowl to be sure, but it looks like Prowl is the Spark Armor figure, not the Warrior Class version. Same with Shockwave.
Entertainment News International (ENI) is the #1 popular culture network for adult fans all around the world.
Get the scoop on all the popular comics, games, movies, toys, and more every day!
Advertising | Submit News | Contact ENI | Privacy Policy
©Entertainment News International - All images, trademarks, logos, video, brands and images used on this website are registered trademarks of their respective companies and owners. All Rights Reserved. Data has been shared for news reporting purposes only. All content sourced by fans, online websites, and or other fan community sources. Entertainment News International is not responsible for reporting errors, inaccuracies, omissions, and or other liablities related to news shared here. We do our best to keep tabs on infringements. If some of your content was shared by accident. Contact us about any infringements right away - CLICK HERE
__scaled_800.jpg "Stunticons Box Set, Dinoking, 86 Optimus Prime, More New Products from Takara TOMY Transformers")
