Toys R Us is back…Sort of.
It’s been just a year since Toys R Us liquidated its stores in the U.S. Now, a group of former company executives has joined together to create a new company, called Tru Kids.
A bankruptcy judge overseeing the bankruptcy proceedings concluded there was no option but to liquidate Toys R Us. The group of former executives sees potential in the assets of the bankrupt company.
Tru Kids is based in New Jersey and is part of the Tru Kids Brands umbrella, which includes brands like the former Toys R Us, Babies R Us, and Geoffrey the Giraffe. The portfolio also includes more than 20 additional consumer toy and baby brands.
Richard Barry served as the Global Merchandising Office for Toy R Us. Now President and CEO of Tru Kids, Barry says a significant gap was left in the market with the bankruptcy. He says a newly imagined retail experience coupled with a global footprint can produce results.
Stand-alone stores, pop-up shops, and branded partnerships are being considered. One such partnership brought Geoffrey’s Toy Box branded toys to some 600 Kroger grocer stories.
The company has also acquired several global partnerships, including Fung Retailing in Asia. Fung Retailing bought Toys R Us Asia business operations in a bankruptcy sale and plans to open 70 new stores in Asia, India, and Europe.
With the demise of Toy R Us retail stores, other companies have stepped up efforts to fill the void. Amazon, Walmart, and Target have announced new efforts and additional products. Walgreens, Party City, Best Buy, J.C. Penney, and Kohl’s have all added more toys to their shelves.