The headlines late Wednesday dealt with the failure of another retailer, this time Toys R Us, as plans were announced to close or sale some 735 stores in the United States. Unknown this morning is the exact fate of the store in Armuchee off Martha Berry Highway. National sources say it is possible some investor will cherry pick store locations and perhaps make a go of it with a smaller Toys R Us model; others says a chain-wide liquidation is about to begin. Corporate statement
This statement was posted on the Armuchee store’s Facebook page on March 9:
“To our loyal customers, Toys R Us kids, parents, parents-to-be, and everyone in between: We’ve seen an amazing outpouring of love and support in recent days and want you to know that we truly appreciate it. Our stores are open for business, and ready to bring joy to children wherever we can, and to help new and expecting parents navigate the crazy world of raising a family.”
The potential closing comes amid some other retail shutdowns so far this year, from the Piggly Wiggly on Shorter to small shops including several downtown. Still, Toys R Us is a surprise — especially when you remember it had a sister “pop up” location at the Calhoun outlets for one or two years.
The Armuchee location is of special interest given its proximity to the hottest development strip in Floyd County, the Martha Berry Corridor as a nearby seniors rehab center prepares for an $8 million expansion, a $5 million Goo Goo Express Wash just opened across the street; another $5 million is being spent to build the RaceTrac just up the street and renovations/upgrades at DiPrima’s Shoes.
All are under way (or opened) and were independently financed without government assistance, even as the owners of Mount Berry Mall push for a tax allocation district status that would send new property taxes from its investment back to the company for as many as 20 years. By chance, the Toys R Us location is inside the acres assembled for the Tax Allocation District.
In fact, the retailer’s closing or sale could fuel more support for the TAD proposal. See the plan below.