Toys ‘R’ Us isn’t done with us yet! Its new owners are looking to revive the brand and give it a new name.
Just when we thought our beloved childhood toy store was gone, after closing its last stores less than half a year ago, the company has now been bought by its creditors, Tru Kids Brands.
A month ago, Tru Kids Brands purchased Toys “R” Us after it closed 700 hundred American stores. But, the company kept 900 stores open in Europe, Asia and India. The new owners plan to open 70 stores by the end of the year; most will be located in Asia. While it is not set in stone, the new owners say their next stop will be bringing the brand back to the U.S.
“We have significant interest about how to bring the brand back to the US,” Richard Barry, the CEO of the new company, told CNN Business on Monday. He was the former global chief merchandising officer at Toys “R” Us.
“We’re talking to a whole series of different companies, some are existing retailers, some tech companies,” Barry added. “We’re working 24 hours a day, 7 days a week to bring it to life. At this point, we’re not ready to commit to what that might look like.” In addition to the Toys “R” Us brand, the owners also have the rights over the toy company’s assets, as well as its sister brand Babies “R” Us.
There are no set dates for production in the U.S., but the company plans to hire other veteran executives of the former Toys “R” Us.