No greater fool apparently:
Failed toy retailer Toys R Us will kick off it’s closing down sale this morning, stripping prices down by as much as 30 per cent in a fire sale that will send shockwaves through the nation’s $3.7 billion toy and games industry as it is forced to digest the liquidation.
The fire sale by Toys R Us will impact other toy retailers as they are forced to either match the promotional prices and steep discounts triggered by the administrators to the collapsed chain or risk losing shoppers.
The Administrators of Toys R Us Australia announced a closing-down sale to commence today at all 44 Toys R Us and its Babies ‘R’ Us stores in Australia, with discounts of up to 30 per cent to be offered on all stock items in the stores.
The retail rout has barely begun, I’m afraid. It’s nicely tracking the bank bear market for a reason:
