I was one of those employees who lost their jobs. I was an assistant manager at a store that was always profitable. What I see here is that unfortunately crime does pay! And hard working employees got the short end of the stick!
Christopher Caldwell I was a temporary employee for KB Toys and was hired on permanently because of so much business they had,March the following year I saw on the news that all KB Toys were closing
I know this is an old attack ad from when Mitt Romney was running for president, but I just wanna say that the claims made in this video as it pertains to why KB Toys went bankrupt are mostly false. First of all, Romney didn't lead the decision to buy KB Toys as he retired from Bain Capital in February 1999 to head the organizing Committee for the Salt Lake City Winter Olympics. Bain purchased KB Toys in 2000, so Romney wouldn't have had any active role in the company at that point. He did remain an investor in Bain, so he would've benefited from any deals that benefited the company, but there were other factors that played in to the demise of KB Toys that were ignored in this video. It wasn't so much the debt that caused KB Toys to go bankrupt, but rather the fact that they just couldn't compete with big box retailers like Toys "R" Us, Walmart and Target in volume or price. Most KB Toys locations were in small shopping mall spaces, so they didn't have the space to carry enough inventory. Also, KB Toys sold mostly closeout toys (old toys they were just trying to get rid of) while carrying only a few hot toys at regular prices. Meanwhile, the big box retailers had the space for far more toys and they could sell the hottest toys at lower prices. Add to that, the amount of money KB Toys had to pay to rent out all the different locations and they were bound to lose money and eventually file for bankruptcy. Their business model just didn't work. How much money or debt KB Toys had would've made no difference in the long run. By the way, KB Toys wasn't the only company to file for bankruptcy and liquidate its stores in 2008/09. Linens 'n Things and Circuit City also filed for bankruptcy and liquidated their stores around the same time. There was a weak retail environment at the time, probably due in part to the great recession. So that probably played a factor in KB's demise as well.
I remember being a kid in the early 90's, coming to K B Toys in Napa, CA because it was one of the best places to find games for the NES and Sega Genesis. Also would buy ZBots, G.I. Joe figures, random shit. Lol man I feel old. Fuckin' Romney; although he left Bain capital in 1999, he still retained all the profits from their schemes to bankrupt KB Toys. Think of it as his "retirement package".
I think one of KB's biggest problems was that they stayed in malls , they charge rent and a percentage. I can't remember if it was of sales of footage. I think if they would have got out of malls they might have had a chance. That is until I heard this , if it is true.
that's sad, toy stores are magical, from a kid to a parent, even when you're an adult and don't even have a child it's neat to see what creative people have come up with and what kids are now and still interested in
Can’t wait for it to finally make its return later this year 😀 been 11 years I believe the last time I stepped into a KB Toys I was 8 back then. They use to have a KB Toys at The Southcenter Mall in Tukwila WA that I go to, the only reason they closed it down was so that they could remodel the Mall, and it was going out of business. KB Toys was my childhood toy store, I use to go in there like literally all the time and I would get a majority of my childhood toys from there, along with Toys r us which is closing sadly(Also my Childhood Toy Store). But it’s very exiting KB Toys is gonna be back in business soon, and also means my childhood will come back to life.
I also worked at KB toys as an ASM and I hated it. Mainly what I hated is parents would drop their kids off at the store and pick them up hours later like it's a day care and police would constantly ask me if I have seen a kid. Also, it got to a point upper management obviously didn't care for the company and let the stores collapse. They kept my store open the longest because it was the 3rd most profitable in the nation. But I can't blame Mitt the company was on it's way out anyways.
Thanks for the comedy. Plenty of reasons toy stores went bankrupt,and investors tried to find what they could, just like you try to find good deals from any desperately motivated seller.
The military industrial complex gives money to both parties, they have a big influence in politics and the economy. It is what keeps this economy afloat. As for the armed forces, it should not be sourced to private firms.
Capitalism isn't about creating jobs, it's about accumulating capital. If you want capitalism then you shouldn't be upset about a successful capitalist.
This makes me even more happy that President Obama defeated him!!!! That was one of my favorite shops in the mall when I was in college! They had great sales on videos and games. Even some comics! There wasn't a day when that store wasn't packed! They were so much cheaper than Toys R Us!!!
Christopher Harold Newman Domain how? Obama has put black communities in grave danger and they are killing each other. Fuck both of them especially Obama, you sellout.
I hated how I could never get ahold of my manager who took up a job as warehouse manager withWalmart can't blame him So I had to call our regional manager and she couldn't be bothered past 2pm and it got to a point where phone help for the stores didn't help. So if I needed something very serious I was calling VP's of the company who I know were in meetings and would step out to help whether it was their job or not Then get yelled at the next day by Regional saying never go above them.
I watched this video when Mit Romney, Obama, and Ron Paul were running. I was a Ron Paul supporter. I ran across a “Nostalgic places you cant shop at anymore” video. Which led me to this reply. This is a smear campaign video for Mit Romney. Its evident because you look other toy stores and you cant because there arent any. So unless you believe there is a conspiracy to remove toy stores in America then this video should be taken down.
Relax, you guys have Toys "R" Us. Wait... they are shutting down too... 33,000 jobs are being lost now. This is even more jobs eliminated. WHY DIDN'T KUMON SHUT DOWN?
YManCyberDude PRESIDENT Obama had nothing to do with the toy store... I came here after reading about the toy store, not looking to jump on the Romney smear.... TOYS... not politics brought me here...
Dude, I live in Queens and I probably went to your store all the time. KB was always one of my favorite places to be when I was growing up, and hearing that this one man is the reason for why all the chains are dead is just sickening.
You should be pissed that Obama is president. You could have voted for Ron Paul. Since we live in a capitalistic country we most likely won't have a president that cares about creating jobs but rather caring about making money to the point they make companies go bankrupt.
I was one of those employees who lost their jobs. I was an assistant manager at a store that was always profitable. What I see here is that unfortunately crime does pay! And hard working employees got the short end of the stick!
I too was an assistant manager of a KB that made money every year and never knew this. If it is true , it really PISSES ME OFF!!!!!!
😢
Christopher Caldwell I was a temporary employee for KB Toys and was hired on permanently because of so much business they had,March the following year I saw on the news that all KB Toys were closing
KB Toys was a great toys store in the world I miss this store.
me 2
me too
I never liked Toys r US KB Toys was also my favorite toy store.
We used to have one at Kingsport, TN at the shopping mall that’s about to be abandoned
I miss KB toys it was my favorite store this Blockbuster and Game Stop Funcoland back then anyways growing up
I know this is an old attack ad from when Mitt Romney was running for president, but I just wanna say that the claims made in this video as it pertains to why KB Toys went bankrupt are mostly false.
First of all, Romney didn't lead the decision to buy KB Toys as he retired from Bain Capital in February 1999 to head the organizing Committee for the Salt Lake City Winter Olympics. Bain purchased KB Toys in 2000, so Romney wouldn't have had any active role in the company at that point. He did remain an investor in Bain, so he would've benefited from any deals that benefited the company, but there were other factors that played in to the demise of KB Toys that were ignored in this video.
It wasn't so much the debt that caused KB Toys to go bankrupt, but rather the fact that they just couldn't compete with big box retailers like Toys "R" Us, Walmart and Target in volume or price. Most KB Toys locations were in small shopping mall spaces, so they didn't have the space to carry enough inventory. Also, KB Toys sold mostly closeout toys (old toys they were just trying to get rid of) while carrying only a few hot toys at regular prices. Meanwhile, the big box retailers had the space for far more toys and they could sell the hottest toys at lower prices. Add to that, the amount of money KB Toys had to pay to rent out all the different locations and they were bound to lose money and eventually file for bankruptcy. Their business model just didn't work. How much money or debt KB Toys had would've made no difference in the long run.
By the way, KB Toys wasn't the only company to file for bankruptcy and liquidate its stores in 2008/09. Linens 'n Things and Circuit City also filed for bankruptcy and liquidated their stores around the same time. There was a weak retail environment at the time, probably due in part to the great recession. So that probably played a factor in KB's demise as well.
I remember being a kid in the early 90's, coming to K B Toys in Napa, CA because it was one of the best places to find games for the NES and Sega Genesis. Also would buy ZBots, G.I. Joe figures, random shit. Lol man I feel old.
Fuckin' Romney; although he left Bain capital in 1999, he still retained all the profits from their schemes to bankrupt KB Toys. Think of it as his "retirement package".
I think one of KB's biggest problems was that they stayed in malls , they charge rent and a percentage. I can't remember if it was of sales of footage. I think if they would have got out of malls they might have had a chance. That is until I heard this , if it is true.
that's sad, toy stores are magical, from a kid to a parent, even when you're an adult and don't even have a child it's neat to see what creative people have come up with and what kids are now and still interested in
I always bought Crash Bandicoot toys at K.B Toys, now thats it's gone, I have to rely on Toys R us, and that's sad.:(
Menchi Guevarra Toys R Us has "KB Classics" logos on some of their merchandise.
And now Toys "R" Us is about to suffer the same fate KB Toys did.
SuperSonicKazooie It’s gone!
Also, that's cool to hear that you always bought Crash Bandicoot toys at KB Toys. Which Crash Bandicoot toys were they?
I remember that KB Toys was always busy when they went under. I lived near one when I was little and it was usually busy and one day it was just gone
The narration is sad and scary lol
Can’t wait for it to finally make its return later this year 😀 been 11 years I believe the last time I stepped into a KB Toys I was 8 back then. They use to have a KB Toys at The Southcenter Mall in Tukwila WA that I go to, the only reason they closed it down was so that they could remodel the Mall, and it was going out of business. KB Toys was my childhood toy store, I use to go in there like literally all the time and I would get a majority of my childhood toys from there, along with Toys r us which is closing sadly(Also my Childhood Toy Store). But it’s very exiting KB Toys is gonna be back in business soon, and also means my childhood will come back to life.
I also worked at KB toys as an ASM and I hated it. Mainly what I hated is parents would drop their kids off at the store and pick them up hours later like it's a day care and police would constantly ask me if I have seen a kid. Also, it got to a point upper management obviously didn't care for the company and let the stores collapse. They kept my store open the longest because it was the 3rd most profitable in the nation. But I can't blame Mitt the company was on it's way out anyways.
Michael M which store did you work at?
Thanks for the comedy. Plenty of reasons toy stores went bankrupt,and investors tried to find what they could, just like you try to find good deals from any desperately motivated seller.
The military industrial complex gives money to both parties, they have a big influence in politics and the economy. It is what keeps this economy afloat. As for the armed forces, it should not be sourced to private firms.
Capitalism isn't about creating jobs, it's about accumulating capital. If you want capitalism then you shouldn't be upset about a successful capitalist.
So basically it was a form of embezzlement. That is very unethical. Such a great memory of the 90s, DESTROYED !!!
What!!!!! * eyes turn red
I know right? I'm pissed too!
still and always will be my fav toy store
This makes me even more happy that President Obama defeated him!!!! That was one of my favorite shops in the mall when I was in college! They had great sales on videos and games. Even some comics! There wasn't a day when that store wasn't packed! They were so much cheaper than Toys R Us!!!
Christopher Harold Newman Domain how? Obama has put black communities in grave danger and they are killing each other. Fuck both of them especially Obama, you sellout.
Romney The Toy Destroyer, He just did it to Toys R Us.
METALMAN4Wii what he the same guy that did it to toy r us too ????
Esther Peguero Yup Now it's personal "puts on Toy Duel Disk".
Bain Capital...
Fond memories of playing their stand setup of Star Fox in the early to mid 90s
SHITTY ROMNEY KILLED MY FAVORITE STORE IN THE MALL! Well at least we still have toys r us and the baby shop which has toys wierd. BUT COOL RIP KB!:(
Mangantonio bravo NSHV well, there's bad news now......
And now Toys "R" Us is about to suffer the same fate KB Toys did.
Mangantonio bravo NSHV Ummm yeah sorry I'm from the Future bankrupted in 2018.
kbtoys is comming back
I was a part time manager for kb too. on steinway. Also worked at queens center mall and jackson heights
I was a store manager for the KB in queens ny. I hate this man. I loved working there and loved my staff.
I hated how I could never get ahold of my manager who took up a job as warehouse manager withWalmart can't blame him So I had to call our regional manager and she couldn't be bothered past 2pm and it got to a point where phone help for the stores didn't help. So if I needed something very serious I was calling VP's of the company who I know were in meetings and would step out to help whether it was their job or not Then get yelled at the next day by Regional saying never go above them.
that's where I bought my first toy delorean
Kaybee Toys might come back as a popup store in 2018.
So much for that.
You know what, I hate Mitt Romney, but I would like to have some sources for these claims that he destroyed KB.
That sucks!!!!! People had better take their blinders off . Romney even looks sinister. Creepy.
RIP KB Toys (1997-2009)
Actually It's RIP Toys R Us (1948-2018)
KB Toys was created in the 20's but operated before 1997
I watched this video when Mit Romney, Obama, and Ron Paul were running. I was a Ron Paul supporter. I ran across a “Nostalgic places you cant shop at anymore” video. Which led me to this reply.
This is a smear campaign video for Mit Romney. Its evident because you look other toy stores and you cant because there arent any. So unless you believe there is a conspiracy to remove toy stores in America then this video should be taken down.
Relax, you guys have Toys "R" Us.
Wait... they are shutting down too... 33,000 jobs are being lost now. This is even more jobs eliminated.
WHY DIDN'T KUMON SHUT DOWN?
Mitt Romney killed KB Toys
that feels bro.
Does anyone think K B toys could come back?
So that fucker helped kill off both KB and Toys R US!!!!!!!!!!!
One in lincoln mall location in Mattson have people but nobody bought from them
I was in a KB toys when it close i cried a intire week and i didnt go to school in a month
I was working there for a bit. Yes
YKW, your right. Thanks 4 telling me. :D
He just beat Obama to the punch . . .
YManCyberDude PRESIDENT Obama had nothing to do with the toy store... I came here after reading about the toy store, not looking to jump on the Romney smear.... TOYS... not politics brought me here...
Holy shit!
I got left here once.
A sad roblox weeb xd 😂
Yeah
Dude, I live in Queens and I probably went to your store all the time. KB was always one of my favorite places to be when I was growing up, and hearing that this one man is the reason for why all the chains are dead is just sickening.
hggggg kb was my existence oh god
whyyyyyyy
that was the only cool place in the mall
You should be pissed that Obama is president. You could have voted for Ron Paul. Since we live in a capitalistic country we most likely won't have a president that cares about creating jobs but rather caring about making money to the point they make companies go bankrupt.
NOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOO
Good news... it's coming back....
Obama defeated Romney in 2012!
TDINextModelingStar fuck Obama too
smary smart
Toys r us sucks too you get better deals at Target and or walmart
Toys R Us don't suck, I miss KB Toys too
+Chaz Clark except that they ship a lego set in a fucking bubble mailer and expects it would arrive safely. Nope it got crushed.
what a sad attempt! you are blaming a man who was not in office. let's talk about Obama's experience eliminating jobs
AH HHAHAHAHAHHAHA. How's the Trump burn healing?
Fond memories of playing their stand setup of Star Fox in the early to mid 90s
One in lincoln mall location in Mattson have people but nobody bought from them