KB Toys Files for Bankruptcy Protection
Pittsfield, Mass. KB Toys filed for bankruptcy protection for the second time in four years on Thursday, according to the Associated Press.
The company said in its filing in U.S. Bankruptcy Court in Delaware that it had debts between $100 million and $500 million and total assets in the same range.
KB Toys had aggressively cut prices to entice shoppers, offering hundreds of toys for $10 or less. It also expanded its value program, which offers deals on new items each week, to include video games and DVD movies.
However, the company’s debt overwhelmed its efforts, the report said. Vendors top KB Toys’ list of unsecured creditors. The company owes toy manufacturer Li & Fung about $27.2 million, Mattel Toys $1.3 million and Energizer Battery more than $728,000. Other creditors are Hasbro Inc. and the maker of Legos.
Dollar General installs blind-friendly POS equipment
GOODLETTSVILLE, Tenn. Dollar General announced that it has begun installing new point of sale equipment that will protect the privacy of Dollar General shoppers with visual impairments.
The new devices have tactile keys arranged like a standard telephone keypad. They will allow Dollar General shoppers who have difficulty reading information on a touch screen to privately and independently enter their PIN and other confidential information.
Dollar General has installed the first tactile devices at several stores in Texas. The new equipment will be installed in all of Dollar General’s 8,300 stores in the United States in less than eighteen months.
Lela Behee, a blind Dollar General shopper from Texas, was excited about the company’s announcement: “I really enjoy shopping at Dollar General, and now feel confident that I can enter my PIN myself, even though I cannot see the touch screen. I wish more retailers would follow Dollar General’s example.”
John Deere dealer adds Ace Hardware to Auburn store
Agrishop, an Auburn, Wash.-based John Deere dealer for 38 years, reopened Nov. 28 after adding an Ace Hardware department, owner Darren Jones said.
Agrishop Ace Hardware store also specializes in Honda power equipment and has a full garden center. The store is 15,000 square feet, 10,000 square feet of which is devoted to hardware.
Agrishop also has John Deere stores in Redmond and Tacoma, and will add an Ace Hardware department to the Tacoma store in April, Jones said. The official Grand Opening of the Auburn store will be held the weekend of Feb. 27.