- Toys R Us is selling everything in its Wayne, New Jersey headquarters as part of its liquidation plan.
- The toy retailer filed for bankruptcy in September 2017. In March 2018, it filed a motion to liquidate its US business and began the process of closing all 735 of its stores.
- Everything from office furniture and audio-visual equipment to giant Geoffrey the Giraffes are for sale.
- The photos the company released to help sell the items function as a sort of walk-through of the deserted headquarters.
Toys R Us’ liquidation sale has spread to its headquarters.
“Everything must go, even Geoffrey,” the company said in its Instagram post announcing the sale.
That includes furnishings, computers, audio-visual equipment, and food-service equipment – basically everything 1,600 employees needed on a daily basis to work comfortably in the company’s headquarters in Wayne, New Jersey.
But nearly all of those workers are gone now, with most of the work force and all executives taking their last day in the middle of May. What’s left is now a ghost town. The photos Toys R Us released to sell the items make it look like everyone suddenly evaporated.
Toys R Us filed for Chapter 11 bankruptcy protection in September 2017. The goal was to renegotiate the company’s $US5 billion debt load, which it had carried since a leveraged buyout took it private in 2005. The company has also been slow to adapt to changing retail trends, like sales primarily being driven by e-commerce.
Toys R Us did not have the holiday performance that would have put lenders in a better position to negotiate favourable terms for the chain. It filed a motion to liquidate its US business in March, and sales to shed inventory began at its stores in the following months. The sales will last until stores run out of inventory.
Take a look at the scene inside Toys R Us’ headquarters, as seen in its liquidation sale photos:
Welcome to a completely empty Toys R Us headquarters, where everything is for sale.
That includes things like displays of Geoffrey the Giraffes and cafeteria furniture.
Touches of Toys R Us can be seen throughout, but otherwise, the pictures depict a relatively normal suburban office park.
A renovation done last year in the kitchen means plenty of relatively new equipment is for sale.
The sale also includes items from the Starbucks satellite that’s on campus.
Normal office furniture, like these executive chairs, will be up for grabs.
There are some whimsical items for sale, too, befitting a toy retailer.
This giant Minion of “Despicable Me” fame needs a home …
… as does this life-size King Kandy, from the Candy Land board game.
Some items, while appearing fun, may only be valuable to those with imagination.
A K’Nex Ferris Wheel sits next to a plant.
The auditorium provides plenty of opportunity for those looking for discount audio equipment.
More standard office equipment is spread through the eerily empty cubicles.
The ample square footage may trigger jokes referencing hit NBC comedy “The Office.”
There is also some higher-end furniture available for sale, like these Barcelona Loungers.
Sully from “Monsters, Inc.” broods over a for-sale pool table.
Printers — the stalwarts of modern office culture — sit idly by.
Leftover office supplies, like these paper goods, will also be liquidated.
Certain pictures of offices in the campus bring to mind a nostalgic sentiment, when corner offices were still coveted and large.
Suburban office parks, like Toys R Us, have fallen out of favour with modern corporate America.
Younger workers typically want to live in cities, and most companies don’t need the ample space a location in the suburbs affords.
New Jersey now has 6.5 million square feet of leasable space in office parks around the state, CoStar, a commercial real estate company, told The New York Times.
Source: The New York Times
“The model as it played out in New Jersey is now seemingly obsolete,” Louise Mozingo, a professor of landscape architecture and environmental planning at University of California, Berkeley, told The Times.
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