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Published: Sun, July 01, 2018
Economy | By Melissa Porter

Anonymous man buys $1 million worth of Toys 'R' Us inventory

Anonymous man buys $1 million worth of Toys 'R' Us inventory

The 16-foot tall statue of Geoffrey the Giraffe that greeted visitors at Toys R Us headquarters in Wayne, New Jersey will be moved to a children's hospital in the state.

A heartbreaking photo of the beloved character standing amidst empty shelves with a bright green roller bag has gone viral on social media as former Toys "R" Us kids - majority now adults - mourn the demise of the toy kingdom. Numerous employees losing their jobs have worked for the company for decades.

In the UK, Toys R Us shut its final locations in April, but watching the animal waving goodbye really marks an end of an era.

This disappointed a steady stream of last-day shoppers who arrived, dejected, to find doors locked.

Now, WNCN CBS 17 reports that the Triangle Town Center staff are spending their store's last day boxing up the few toys that remain to put on a truck.

The heart-breaking image of Geoffrey The Giraffe with his suitcase leaving Toys "R" Us for the very last time went viral earlier this week as big kids come to terms with a piece of their childhood dying off forever.

KB Toys, which filed for bankruptcy and closed all us stores in 2009, is also said to be mulling a comeback.

Meanwhile, five former Toys R Us executives, including former CEO David Brandon, shared $8.2 million in retention bonuses. "Play on!" the message, playing on the company's famous jingle, added.

"This is the story of a company, one of the most iconic in America, that was saddled with so much debt that it could not succeed", Democratic Senator Cory Booker of New Jersey said, according to The Washington Post.

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