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Trade press is reporting that eToys has said they are going to run out of
cash sometime in March or so barring another funding round or a white
knight. And with Amazon allying with TRU on the toy front, there's not too
much hope of a ecommerce white knight I don't think. With monkey wards
exiting retailing (as well as Bradlee's), I'm not sure a conventional
retailer will appear to buy them either. Might... eToys built a fulfillment
operation that someone might want. But I doubt it.
That really sank in to me just now, I went and looked at the site. I had a
shopping cart from a few days back and I added a couple items. I was
thinking I could just hold onto the cart (as sort of a "thinking about this"
list) till some more markdowns happened and check out then.
Anyway, I had an Xwing in there.
On viewing the cart, it's now listed in a second section, the out of stock
section of the cart. Not as back ordered, but as: "we no longer sell this
item". That isn't totally surprising for Xwing, which after all, is getting
old. Sooner or later merchants won't sell it any more.
But I also had a Dark Side Developer kit which they had discounted pretty
strongly earlier this week. It ALSO is in "we no longer sell this item"
mode. That item isn't very old at all! Less than six months, I think.
Could be a fluke of wording or a DB error, but to me that means they are
selling their existing inventory and NOT buying any new stuff.
They're dead. They just haven't fallen over yet. When their stuff is gone,
it's gone.
A word to the wise. Be careful if you wait till the very end. They may not
close up in a totally orderly fashion. Get your stuff ordered, and GET ANY
PROBLEMS RESOLVED NOW while they still have money. If you wait till the last
minute you may be left holding the bag and have to get your CC to reverse
charges.
The dot com bubble has burst. There is more woe to come. It's not just the
marginal guys with no real business plan like mypersonalunderwearshopper.com
who are going under, either.
++Lar
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Message has 1 Reply:
 | | Re: Not looking good for eToys...
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| (...) Actually I suspect that a conventional retailer or white knight could NOT buy eToys. Under Section 203 of the Delaware General Corporation Law they are forbidden to engage in a business combination with an interested stockholder for a period (...) (24 years ago, 30-Dec-00, to lugnet.market.shopping)
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