Toys R Us to open ephemeral holiday stores in 600 Kroger stores

What's left of Toys R Us is back for the holidays. Geoffrey's toy box will be installed this month in about 600 Kroger stores in nearly 30 states, the largest supermarket chain in the country said Friday.

The grocery chain is the last retailer to play for former Toys R Us buyers. Walmart and Target are developing their toy sections and Amazon is sending physical toy catalogs to its customers.

This decision is not really a surprise, given that the mascot of the bankrupt retailer, Geoffrey the Giraffe, made an unexpected appearance in April – and for some unwanted – at a toy industry show, apparently sent by a group of lenders controlling the bankruptcy. intellectual property of the retailer and is considering a second act.

The company, Geoffrey LLC, was formed last month after the funds that took control of the retailer's assets canceled their intellectual property auction plans, preferring to try to resurrect the brand.

Earlier this month, Senator Elizabeth Warren, Massachusetts, asked financial companies such as Angelo Gordon, Franklin Mutual Advisors, Highland Capital, Oaktree Capital, Solus Alternative Asset Management, and Vornado Realty Trust of explain why they pushed to liquidate the toy seller rather than reorganize under the protection of bankruptcy.

The drop-down sections at Kroger supermarkets will sell Toys R Us private toys such as Zone, Imaginarium, Journey Girls, Edu Science, You & Me and Just Like Home, ranging from $ 19.99 to $ 49.99.

This decision is part of Solus and Angelo Gordon's efforts to raise funds to revive Toys R Us as an independent group, according to Bloomberg News.

"We are excited to offer Geoffrey's toy box this holiday season to offer our customers the opportunity to buy a selection of toys that formerly belonged to Toys R Us" said Robert Clark, senior vice president of Merchandising at Kroger.

"We are excited to partner with Kroger to offer American consumers a collection of products from our beloved brand portfolio," added Richard Barry, executive vice president of Geoffrey's Toy Box and former head of sales at Toys R Us.

Carrie Gleason, director of policy for United For Respect, a lobby group for financial companies that decided to liquidate Toys R Us, announced the layoff of 33,000 laid-off workers without severance pay. affected employees.

"It's shocking that Solus and Angelo Gordon are launching Geoffrey's toy box without the 33,000 families struggling since the closing of these hedge funds have done well," said Gleason, whose group is conducting discussions with these funds to contribute to a fund to help displaced workers.

KKR and Bain Capital are working to create a fund to support workers affected by the disappearance of the retailer, Gleason said. For the others: "Hundreds of former Toys R Us employees contacted these hedge funds and asked them to contribute to the fund, and they refused," said Gleason.

The devastation caused by the disappearance of the retailer exceeds tens of thousands of laid-off workers, said Gleason, citing the negative consequences for toy manufacturers, including Mattel, Lego and Hasbro, who recently announced layoffs. "We are losing jobs in this sector," she said.