HOUSTON - If things don’t change for toy retail giant Toys R Us, the days of Geoffrey the Giraffe are numbered.
The 69-year-old toy store has filed for bankruptcy protection as it tries to reorganize.
They’re not alone. Many brick and mortar stores have struggled, or simply given up, and industry analysts see a trend.
Dr. Dale Konicek, Adjunct Professor of Banking and Finance at Houston Community College explained, “I think that some of the designers didn’t really think that the baby boomers were going to take to the online experience, because of their age, because of 'they like the store, they’re used to the things they’ve done over the years.' Not so.”
“Amazon.com is really the one that I think that has caused, as it has with many other stores that are already closed. All of a sudden I’ve got this great big store that I never had before in the comfort of my home,” Konicek added.
Parents and kids will have at least one more holiday season to shop along the aisles of Toys R Us as the company tries to fix what’s broken. Their stores will remain open, and they even plan on announcing plans for new hires in the coming days.
In the end, it was the whole “not wanting to grow up” thing that really hurt the chain… hopefully chapter 11 isn’t their last chapter, turning their bedtime stories into history books.