Despite customer efforts that kept LagoonaMagoo Toys from defaulting on a bank loan last month, owners need to increase sales to stay in business long term.
Last month community support prevented two popular St. Louis area toy stores from closingshop as originally planned–but the company still has challenges ahead, according to a recent KMOX report.
Happy Up, Inc., the owners of LagoonaMagoo Toys in downtown Clayton and Once Upon a Toy in Edwardsville, Ill., announced they’d be closing because they couldn’t pay off a bank loan. A Save the Toy Store effort on Facebook and Crowdtilt fundraiser raised more than $82,000 and kept both stores open.
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