Toys R Us Toy Company Is Set To Reopen This Year
TOYS R US – The toy company Toys R Us set to come back this year after closing down due to some difficulties keeping up and bankruptcy last year.
A sad news was reported last year when Toys R Us announced closure due to some financial reasons. Apparently, there hasn’t been a lot of toy fans left as more and more kids prefer digital games.
Although smartphones and tablets are great helpful devices, the fun with playing physical toys is just different. Check out this student who hand crafts his toys from recycled materials.
One of the biggest toy companies in the globe, Toys R Us is set to make a huge comeback after their recent problems.
The company is supposed to open this year just in time for the holidays.
Bloomberg reports he company is about to launch an ecommerce site and new stores in the US later on in this year.
The planned new stores are going to be at least 1/3 of the original stores but they will add some new features such as a play area and other experiences.
Also, a consignment inventory model will be used by the stores to minimize expenditures. This means, the outlets would be allowed to return unsold items. Bloomberg revealed.
Richard Barry – a former executive of the firm – has been taking action attempting to redeem the chain by pitching his ideas to toy makers, sources say.
Currently, Barry stands as the CEO of Tru Kids Inc. – a brand new company that took Toys R Us’ place before.
In a press release held last February, Tru Kids Brands made the announcement of becoming the parent company of the toy company:
“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.”
Barry, who was also the former global chief merchandising officer of Toys R Us, will now lead the new company.
This is according to an article from Fox News – Business.
Barry then explained his planned course in his statement:
“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.”
That is all there is to it, at least for now. We’ll post updates as soon as we got them.