KayBees is closing? I just thought people were on a crazy buying spree.
Parade of Shoes, but good luck finding anything.
t
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Re: Does anyone know of any store closings?
certain Kaybees are closing I know the one in Port washington is
tracyg
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Re: Does anyone know of any store closings?
the one in Roosevelt field looks like it is too. Thats the one that was almost empty a few days ago.
cjb88
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Re: Does anyone know of any store closings?
Franks Nursery is or already closed...
Shorty McBride
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Re: Does anyone know of any store closings?
I just heard today that Toys r us is in chapter 11 ?!?
Danielle&Scott
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Re: Does anyone know of any store closings?
What's the future of Kay-Bee Toys?
What's Going On
Executives at Kay-Bee Toys Inc. blame Wal-Mart for driving them into bankruptcy. Kay-Bee Toys, a subsidiary of the Melville Corporation, filed for Chapter 11 bankruptcy protection last week. The company's store at Independence Center remains open for business while things are sorted out, but its future could be in jeopardy. About 500 of the more than 1,300 Kay-Bee Toys stores around the nation may be closed.
Executives point to price wars as the main reason for filing for bankruptcy. Kay-Bee says sales were lower than expected during the 2003 holiday season while Wal-Mart was able to offer lower prices and gobble up large shares of the toy market. Wal-Mart gets discounted prices from manufacturers because it buys in massive quantities.
Kay-Bee is keeping stores open with $350 million in recently acquired financing. Plans are to reorganize and emerge from bankruptcy before the 2004 holiday shopping season.
