Economic Recession Litter: KB Toys Closes Store Leaving Rubbish on the Streets
I have always hated KB Toys, and I have honestly only been the store three times in my life. I’ve searched the packed shelves of junk toys for a glimmer of something that I could give my children that was not made of plastic, commercialized, oversexualized, gender specified, or Chinese made. Thus, I was not saddend to hear this junk toy store was going out of business.
For the second time in four years, KB Toys filed Chapter 11 bankruptcy and closed doors for good after the winter holidays. NorthJersey.com describes the company’s financial downfall:
KB blamed the difficult economy for the filing, but toy industry experts said wrong decisions by the retailer hastened its demise. It had shifted its focus to mall-based stores, saddling itself with high rents just as shopping-center traffic was dropping; it stopped selling video-game consoles; and it moved its merchandise mix away from hot toys and toward closeouts.
