KB Toys Files For Chapter 11 Bankruptcy Protection & To Close Stores

by Jay Cochran
December 11, 2008
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



Comments...

Last 10 comments - ( Read All Posts )
nonameshmo30 - 2008-12-16 @ 6:26 pm
The news is really bad, especially since they were the ones that help me me find the Mortal Kombat figs I needed, adn they just in cases of at least 2 waves of the DCUC . Sad days for us all.

Even worse for the workers. I pray for their families in this holiday season.

well said i agree i hate it for them

BigBearJahlon - 2008-12-16 @ 6:24 pm

The news is really bad, especially since they were the ones that help me me find the Mortal Kombat figs I needed, adn they just in cases of at least 2 waves of the DCUC . Sad days for us all.

Even worse for the workers. I pray for their families in this holiday season.

CaptainTriumph - 2008-12-16 @ 2:29 pm
I got my G1 prime at sears which I still have

Best stores and Sears used to be the place to get toys when I was a kid...along with Kiddie City.

nonameshmo30 - 2008-12-16 @ 2:57 am

I got my G1 prime at sears which I still have

Cthulhu5k - 2008-12-16 @ 12:18 am
Went today, they didn't get any DC figures in.

It happens. No worries.

degra - 2008-12-15 @ 11:53 pm
Truly a pity - they are now going the way of Child World and the like.

I miss Child World

That were I got most of my G1's

I miss Toys Plus and Toys by Roy. I got the bulk of my childhood toys there. Sears was aso pretty good. I found some of my Super Powers at Woolsworth and TG&Y.

BigBot84 - 2008-12-15 @ 11:35 pm

Went today, they didn't get any DC figures in.

Wheeljack35 - 2008-12-14 @ 8:31 pm
Actually, this has been coming for a while now. Over the past few years, they have been closing one store after another on CT, pretty much cutting down dramatically on the territory they were able to cover. I think they only have locations in the lower half of the state now, and they are pretty much consolidated to the most populaced (?) quadrant of that area.

Oddly, two months ago, when I lost my job, I saw they were looking for a store manager at the closest locaton to me. I applied, and haven't heard anything back - I kind of thought this was coming, so I didn't really have any high hopes. It's kind of sad, really, as they were always the main consistent toy store presence in any mall you went to. Now we only have the 'fly-by-night' temp stores who tend to have their own pricing strategies.

Truly a pity - they are now going the way of Child World and the like.

I miss Child World

That were I got most of my G1's

There was one in Westport that now TRU

Norwalk had a KB

My problem with KB was it was allways expensive and the one that was closest to me shut down last xmas and never had any Transformers in stock

Cthulhu5k - 2008-12-14 @ 7:38 pm
Just curious: has anybody found any of the Series 4 exclusives since KB announced their bankruptcy? If anybody with a kind heart could help out that would rock.

I've only found them once. I overheard a clerk saying they're getting a shipment monday so next week I shall be hunting again.

Cool! I wish you luck. Throw me a line if you get anything.

Nightwing4984 - 2008-12-14 @ 7:25 pm

its funny kb has to go out of business for them to get decent prices on anything they are bankrupt because they always charge more than any other store does. the only thing i have found kb good for is finding old toys that aren't in tru or walmart anymore i have found toys that have been off the shelf for a year. its about time they go out of business though they closed stores years ago and that just delayed this. if anyone is to blame its kb cause they always charge crazy prices for stuff you could find at target or any other store.

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