A'Going Out Of Business sign is displayed outside a Toys'R Us store
23 June, 2019, 08:43
Though the toy retailer closed down last year, Toys R Us is expected to launch an e-commerce site and several stores in the USA later this year, according to Bloomberg.
Good news for those Toys R Us kids who never stopped believing their beloved had toy store disappeared forever.
Richard Barry, CEO of Tru Kids Brands and former global chief merchandising officer at Toys "R" Us, plans to open at least two Toys "R" Us stores this year, according to a person familiar with Barry's plans.
More than 700 American Toys "R" United States stores closed previous year. Whether or not toymakers that went unpaid because of Toys "R" Us' liquidation in 2018 will be willing to work with the retailer on the consignment process is an unknown.
"Effective January 20, 2019, the new company, Tru Kids Inc. doing business as Tru Kids Brands, became the proud parent of Toys R Us, Babies R Us, Geoffrey and more than 20 established consumer toy and baby brands", Tru Kids Brands said in a press release in February. He also said that e-commerce will play a key role in the brand's future. "We will sell them inventory".
"This market needs a self-standing toy store, that's for sure", said MGA CEO Isaac Larian said in an interview. It had been generating about $7 billion in sales a year in the USA through more than 700 locations, including the Babies "R" Us brand.
Started in 1948 by World War II veteran Charles Lazarus at a single store in the U.S. capital Washington, called "Children's Bargain Town", the company began calling itself Toys "R" Us in 1957 and went public in 1978 after a period of heavy growth.