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Toys & R & # 39; Us, which is forecasting a reduction in its business this year, plans to open 20 stores and bolster its merchandising, teenage and baby businesses so that its profits reach 250 million in the next year. four years.
"We are independent and we are very keen to transform Toys 'R' Us. We want the customer to realize that we are not the same company, even though we have not changed the name. of the brand because we feel that it is a very valuable asset, "says Paulo Sousa, the new CEO of Toys & # 39; R & # 39; Us Iberia after buying the toy store brand in Portugal and Spain through the Portuguese Green Swan Fund.
Toys "R" Us is still studying "the opening of new department stores". According to information communicated to the press, the model will be deployed from October in all stores of the brand. The toy chain Toys "R" Us decided to continue its activities in Portugal and Spain after its acquisition by Portuguese investors. In August of this year, the Portuguese company Green Swan, which made the acquisition, explained that it was an investment of 80 million euros over four years.
"The operation of Toys" R "Us Iberia will continue and develop in Spain following an acquisition process by Portuguese investors, Green Swan, represented by Paulo Andrez", who will join the current management team ", as new owners" The company said in a statement.
It will be remembered that the unit Toys & # 39; R & # 39; North America went bankrupt last September with a loan of $ 3.1 billion allowing some stores to continue operating at the same time that the retailer sought to resolve the difficult situation in which it is located. However, the results were lower than expected during the Christmas season, which raises doubts about the viability of the chain of toy stores.
The landscape was not as expected. In late February, the British unit declared bankruptcy. At the time, the company had designated the insolvency process as "the only viable option for the company".
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