Toys R Us returns, yet again: new owner plans to open stores in North America

Toys R Us is looking to stage another comeback. The retail chain plans to reopen stores in North America under the new ownership of WHP Global, a New York-based brand management company. WHP said in a press release Monday that it had acquired a majority stake in Tru Kids, the parent company. of the brands Toys R Us, Babies R Us and Geoffrey la Girafe.

“We’re in the brand business and Toys R Us is the world’s most credible, trusted and trusted toy brand,” said WHP President and CEO Yehuda Shmidman. “We’re coming out of a year when toys are on fire … and for Toys R Us, the United States really is a blank canvas.”

Shmidman laid out a plan to reopen Toys R Us stores in North America before the next holiday season. These locations could take the form of flagships, pop-ups, airport shops or mini-stores at other retailers, according to the company’s first plans.

Toys R Us initially closed its last 700 stores in North America in June 2018, nine months after the retailer filed for Chapter 11 bankruptcy. Although their presence has declined nationally, Toys R Us and Babies R They still have over 900 brand name stores in 25 countries around the world. WHP claims the Toys R Us brand generates over $ 2 billion in retail sales.