Toys R Us plots a second act with new look, new name

/ AP

MoneyWatch: Lenders look to revive Toys R Us

New York – Toys R Us fans in the U.S. should see the iconic brand re-emerge in some form by this holiday season.

Richard Barry, a former Toys R Us executive and now CEO of the new company called Tru Kids Inc., 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. He said e-commerce will play a key role.

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 last year in the U.S. as well as several other regions including the U.K.

In October, a company called Geoffrey LLC won an auction for Toys R Us assets to resuscitate the brand, rather than sell it off for parts. It set up Geoffrey's Toy Box in November last year in about 600 Kroger stores in nearly 30 states.

Starting Jan. 20, Barry and several other former Toys R Us executives founded Tru Kids and are now managing the Toys R Us, Babies R Us and Geoffrey brands.

As Toys R Us closes its doors for good, a look back at its legacy

Toys R Us generated $3 billion in global retail sales in 2018. Tru Kids estimates that 40 percent to 50 percent of Toys R Us market share is still up for grabs despite many retailers like Walmart and Target expanding their toy aisles.

"These brands are beloved by customers," said Barry. He noted that the company will focus on experiences in physical stores, which could be about 10,000 square feet. The original Toys R Us stores were roughly about 40,000 square feet.

Barry said he and his team have been reaching out to toymakers and have received strong support. But he acknowledged that many had been burned by the Toys R Us liquidation.

Tru Kids is based in Parsippany, New Jersey, about a 20-minute drive from Wayne, New Jersey, where Toys R Us was based. The new company will work with licensing partners to open 70 stores this year in Asia, India and Europe. Outside the U.S., Toys R Us continues to operate about 800 stores.

First published on February 11, 2019

© 2019 The Associated Press. All Rights Reserved. This material may not be published, broadcast, rewritten, or redistributed.

5 dead in shooting at rural Texas home

At least five people were killed Monday following an apparent shooting at a home in rural Texas, according to authorities.

updated 9M ago

Toys R Us plots a second act with new look, new name

The children's brand is planning to return as Tru Kids, with smaller stores and a stronger e-commerce presence

updated 6M ago

Trump talks border security debate at White House

Trump pushed for his long-promised border wall before heading to Texas for a campaign-style rally

updated 35M ago

Boys stop to recite Pledge of Allegiance as flag raised outside firehouse

The photo of these little patriots stopping to pay respect for the flag has gone viral

updated 49M ago

Kyler Murray chooses NFL over baseball, Oakland A's

"I am firmly and fully committing my life and time to becoming an NFL quarterback," Murray said

updated 57M ago

Trump talks border security debate at White House

Trump pushed for his long-promised border wall before heading to Texas for a campaign-style rally

updated 35M ago

As talks falter, lawmakers meet to avert shutdown

Part of the government could close again if lawmakers fail to broker a budget deal before the stopgap spending bill expires Friday

updated 2M ago

Freshman Dem apologizes for tweets widely denounced as anti-Semitic

"We condemn these remarks and we call upon Congresswoman Omar to immediately apologize for these hurtful comments"

1H ago

Trevor Noah weighs in on blackface controversies

The "Daily Show" host weighs in on blackface controversies surrounding Virginia leaders

4H ago

Venezuelan officials: Aid tests military's loyalty to Maduro

The U.S. government said it's prepared to dispatch more than $20 million in humanitarian aid to Venezuela

4H ago

ISIS still fighting in Syria despite Trump's assurances

Ground forces backed by U.S. and coalition airstrikes launched an offensive over the weekend

3H ago

Venezuelan officials: Aid tests military's loyalty to Maduro

The U.S. government said it's prepared to dispatch more than $20 million in humanitarian aid to Venezuela

4H ago

Russian region declares emergency over polar bear "invasion"

It is illegal to hunt the species, already endangered thanks to climate change shrinking their habitat, but a cull has not been ruled out

6H ago

"Napalm Girl" from iconic Vietnam photo honored for peace work

Image of Kim Phuc's tiny, badly burned body was seared into the minds of a generation, and she has dedicated her life to helping kids wounded by war

7H ago

Iran marks 40 years of Islamic rule; goads U.S. and threatens Israel

Well-worn chant of "Death to America" echoes in streets again as leaders mock U.S. and vow military build-up — and regular Iranians suffer

6H ago

Alicia Keys shares story about John Mayer splitting his Grammy award with her 15 years ago

Mayer surprised Keys with the same award he split with her in 2004 — after he felt she deserved the trophy, too

3H ago

Grammys 2019: Complete list of winners

Kacey Musgraves took home album of the year; Cardi B made history as the first woman to win best rap album

3H ago

Trevor Noah weighs in on blackface controversies

The "Daily Show" host weighs in on blackface controversies surrounding Virginia leaders

4H ago

The 2019 Grammy Awards: Winners and highlights

Female performers dominated the 61st Annual Grammy Awards

5H ago

Michelle Obama makes surprise appearance at Grammys

The former first lady's comments were interrupted by roaring applause Sunday night

2H ago

Russian region declares emergency over polar bear "invasion"

It is illegal to hunt the species, already endangered thanks to climate change shrinking their habitat, but a cull has not been ruled out

6H ago

Crew hunts for fabled U.S. carrier in a graveyard for WWII ships

The explorers who located the wreck of the USS Indianapolis are searching for an aircraft carrier sunk by the Japanese 77 years ago

7H ago

Hurricanes are intensifying more rapidly and it may be our fault

Storms that quickly strengthen are often the most challenging to predict, and they can cause more damage

22H ago

Wells Fargo outage: Customers say direct deposits aren't showing up

Banking customers complained about problems accessing their accounts, while the bank vowed to reverse fees

Feb 8

Global lawmakers try again to get Zuckerberg to testify

A Facebook vice president sat next to an empty chair reserved for CEO Mark Zuckerberg when the committee met in London last year

Feb 7

Medicare patients face surging costs for some life-saving drugs

Participants in the federal health program often struggle to afford treatments for cancer and other diseases

7H ago

CBD fans want edibles, but some states are cracking down

States are cracking down on cannabidiol-infused food over safety concerns — some in the industry say it's warranted

updated 55M ago

Feeling lonely? You're not alone

Nearly half of Americans say they sometimes or always feel alone, which can have health consequences: doctors say loneliness can lead to increased mortality equal to smoking 15 cigarettes a day

5H ago

Mumps cases confirmed at ICE facility in Houston

Mumps is highly contagious but is highly preventable with a vaccine

Feb 9

Number of people with measles tripled in Europe in 2018, WHO says

"The picture for 2018 makes it clear that the current pace of progress in raising immunization rates will be insufficient to stop measles circulation"

Feb 9

Toys R Us plots a second act with new look, new name

The children's brand is planning to return as Tru Kids, with smaller stores and a stronger e-commerce presence

updated 6M ago

Where's my tax refund? The IRS has a tracker for that

Now you can easily find out when your check will arrive, but you'll also have to allow yourself to be tracked

updated 59M ago

Medicare patients face surging costs for some life-saving drugs

Participants in the federal health program often struggle to afford treatments for cancer and other diseases

7H ago

Valentine’s Day: Fewer love it, more leave it

A record low number of people plan to mark the commercial occasion, but those who do are spending more than ever

8H ago

How companies are also flunking retirement planning

Few employers offer phased-retirement plans, which can help both workers and companies plan for retirement

8H ago

5 dead in shooting at rural Texas home

At least five people were killed Monday following an apparent shooting at a home in rural Texas, according to authorities.

updated 9M ago

Southern Baptist leaders and workers abused hundreds, report says

Southern Baptist church leaders and workers have been accused of sexual misconduct over the past 20 years

1H ago

Rare move in bid to lengthen sentence of Chicago cop who killed teen

The former Chicago officer was sentenced to six years and nine months in the 2014 death of black teen Laquan McDonald

2H ago

Jail nurse accused of poisoning husband reportedly wanted to marry inmate

Amy Murray, of Iberia, Missouri, allegedly told the inmate they could get married because her husband was dead

4H ago

Pittsburgh synagogue shooting suspect pleads not guilty

Robert Bowers is accused of killing 11 people and wounding seven during an attack on a Pittsburgh synagogue

5H ago

LEAVE A REPLY

Please enter your comment!
Please enter your name here