Retail Revival: Beloved Toy Store Eyes Comeback
In a surprise move, the owners of Toys “R” Us’s remaining assets are exploring ways to revive the iconic toy store chain, along with its sister brand Babies “R” Us. This development comes just months after the company shut down its US operations and liquidated its assets in a bankruptcy proceeding.
Initially, the company had planned to auction off the rights to its name and brand, with several bidders already making offers. However, the owners have now cancelled the auction, opting instead to consider establishing a new operating company under the Toys “R” Us and Babies “R” Us names.
The proposed plan would involve creating new retail businesses in the US, expanding the brand’s international presence, and further developing its private label products. While details on the timeline and specifics of the revival remain scarce, the move has sparked hope among fans of the beloved toy store chain.
It’s worth noting that other bidders had expressed interest in acquiring the Toys “R” Us brand, but their intentions were unclear. In some cases, companies buy out rival brands in bankruptcy proceedings to prevent them from being revived by competitors.
Toys “R” Us filed for bankruptcy last year, aiming to restructure and shed debt. However, a dismal holiday season led the company to announce its closure in March, resulting in the loss of around 31,000 jobs. The 70-year-old retailer officially shut down in June, leaving a void in the toy retail landscape.
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