Toys R Us is rising from the dead

Marco Green
February 12, 2019

If you thought you had seen the last of Toys" R " Us, then think again.

Toys R Us isn't ready to get banished to the island of misfit toys.

Toys R Us, buckling under competition from Amazon and several billions of dollars of debt, filed for Chapter 11 reorganization in September 2017 and then liquidated its businesses previous year in the U.S.as well as several other regions including the United Kingdom. Several former Toys "R" Us executives have launched a new company, "Tru Kids Brands", that will manage the iconic brands along with more than 20 established consumer toy and baby brands. Richard Barry serves as the company's CEO and president.

During this past holiday season, Tru Kids sold private-label brands such as Journey Girls at USA grocery-store chain Kroger Co., and the company is now in talks to continue the partnership this year, Barry said. But he acknowledged that many had been burned by the Toys R Us liquidation.

According to a statement from Tru Kids Inc., veteran Toys R Us executives Matthew Finigan, James Young, and Jean-Daniel Gatignol will also take leadership roles in the new company.

"We have an incredible team focused on bringing Toys R Us and Babies R Us back in a completely new and reimagined way, so the United States doesn't have to go through another holiday without these beloved brands", Barry said.

A company spokesperson said the company will have more specific information on its business plan in a future announcement - but it feels confident it will be able to leverage the value of the brand.

For more than 70 years, children spent their childhood in Toys R Us and Babies R Us was the destination for expecting parents.

Barry said he already is looking forward to the next holiday shopping season.

According to Barry, the team is focused on bringing back the stores in a completely new way so the US doesn't have to go another holiday season without the beloved brand.

The company announced Monday that its partners in Asia and Europe are opening 70 new stores this year, including several in China.

Other reports by Click Lancashire

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