New Toys ‘R’ Us Owner Plans to Reopen Stores
One of the most iconic and beloved toy stores ever has a brand new owner, and could be reopening some stores in the United States, perhaps in time for the 2021 holiday season.
According to CNBC.com, the new owner of the toy store giant is brand management company, WHP Global. Toys 'R' Us first announced bankruptcy plans back in 2017 and started the process of closing their stores in 2018. The company was sold to the parent company Tru Kids in 2017.
Yehuda Shmidman, the Chairman and Chief Executive Officer of WHP Global, told CNBC in an interview,
“We’re in the brand business, and Toys R Us is the single most credible, trusted and beloved toy brand in the world. We’re coming off a year where toys are just on fire. ... And for Toys R Us, the U.S. is really a blank canvas.”
What's even better about this news is that stores could possibly be opened in time for the 2021 holiday season. We could see full-fledged stores, mini stores, pop-up locations, and airport locations, but there's been no official word on where or when stores would open.
I'm so glad to hear that Toys R Us is getting a second chance. I have many wonderful memories of shopping there for my boys around the holidays. It was always fun to "test out" the latest and greatest toys and games.
Check back for more updates on the next chapter of Toys 'R' Us.
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