RCS 261: Goody's and KB Toys Closing

Goody's

The reason I think Goody's had to close their store is because they had a hard time keeping up with their competetors. Those competetors includes Kohl's and Target. Target and Kohl's had a better marketing stactegy and sales so that did not help with Goody's trying to get business. Goody's had 355 stores and had to close over 100 of them. Goody's did not have a good holiday season so that did not help with them trying to get their business up. They ended up having to file for bankrupcy. If they would have planned sales better and competed with places more like them they may have survived. Goody's even went so far as to sale their store shelves and mannequins.They held a liquidation sale to get as mush as they could sold. Goody's was a 55 year old retailer and now is gone.

KB Toys

KB Toys filed for chapter 11 bankrupcy protection and closed over 400 stores. KB Toys was the largest mall-based toy retailer. They did not file for bankrupcy until 2 weeks before Christmas and this was questioned by the judge. I think KB Toys closed because they had high prices compared to places like Toys R Us and home town mom and pop shop like John's Toy and Hobby. KB Toys had few sales and when they did they mark-downs were not significant so people still did not want to buy the toys. Kb Toys is also the oldest toy retail chain and just like Goody's they are now gone.