Toys R Us poising itself for a comeback

12 Février, 2019, 13:55 | Auteur: Auguste Feret
  • Toys R Us poising itself for a comeback

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 past year in the U.S.as well as several other regions including the United Kingdom. The original Toys R Us stores were roughly about 40,000 square feet.

One thing is certain: Toys "R" Us will not return to the retail locations consumers in New Jersey have come to know over the years.

"That's certainly our intent, to be in a position where USA consumers can engage with Toys "R" Us and Babies "R" Us again this holiday season", said Richard Barry, a former Toys "R" Us executive who is now chief executive officer of the new entity Tru Kids Inc.

Tru Kids Inc. was founded in 2019 to salvage the retailer's still-valuable brands. The management team includes Matthew Finigan, who previously served as VP and treasurer of Toys "R" Us as CFO; James Young, former executive VP and general counsel of Toys "R" Us, as executive VP of global license management & general counsel: and Jean-Daniel Gatignol, former senior VP of Toys "R" Us, as senior VP of global sourcing and brands.

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The toy retailer's bankruptcy and subsequent mass store closures and layoffs sparked woes at toy makers like Hasbro and Mattel during the holiday season of 2018.

Barry, in a statement, said he is confident there still is room for Toys "R" Us in retail landscape. Outside the U.S., Toys R Us continues to operate about 800 stores.

Richard Barry, a former Toys R Us executive and now CEO of the new company called Tru Kids Brands, told The Associated Press he and his team are still working on the details, but they're exploring various options including freestanding stores and shops within existing stores.

"We have a once-in-a-lifetime opportunity to write the next chapter of Toys "R" Us by launching a newly imagined omnichannel retail experience for our beloved brands here in the U.S. In addition, our strong global footprint is led by experienced and passionate operating teams that are 100 percent focused on growth".

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