KB Toys Goes Bankrupt. Again

December 12th, 2008

Twice in four years? Wasn’t the first bankruptcy sign enough that their business model sucked?

In another sign of the grim holiday season, KB Toys filed for bankruptcy protection for the second time in four years on Thursday and plans to begin going-out-of business sales at its stores immediately.

The 86-year-old company said in a filing that its debt is “directly attributable to a sudden and sharp decline in consumer sales” because of the poor economy.

I guess they had to learn the hard way.

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One Response to “KB Toys Goes Bankrupt. Again”

Kristensen:

December 12, 2008 at 1:17 pm

I feel bad whenever I heard that a company needs to close down or is filing for bankruptcy and I don’t understand why KB Toys decided not to sell video-game consoles. I just hope that they can still recover, since they can boost their sales during this season.

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