A new Toys ‘R’ Us emerges from the wreckage

  • A new Toys ‘R’ Us emerges from the wreckage

A new Toys ‘R’ Us emerges from the wreckage

The remnant of Toys "R" Us Inc.is looking for licensing partners to revive the brand in several parts of the world, including in the USA, by next Christmas.

Toys "R" Us is back.

It's been nearly a year since Toys" R " Us filed for bankruptcy and liquidated its business.

Effective Jan. 20, Tru Kids Inc., doing business as Tru Kids Brands, became the proud parent of Toys R Us, Babies R Us, Geoffrey and more than 20 established consumer toy and baby brands, the company announced Monday.

"Despite unprecedented efforts to capture the USA market share this past holiday season, there is still a significant gap and huge consumer demand for the trusted experience that Toys "R" Us and Babies "R" Us delivers", said Barry. The management team includes Matthew Finigan, who previously served as VP and treasurer of Toys "R" Us as CFO; James Young, former executive VP and general counsel of Toys "R" Us, as executive VP of global license management & general counsel: and Jean-Daniel Gatignol, former senior VP of Toys "R" Us, as senior VP of global sourcing and brands.

Richard Barry, a former Toys R Us executive and now CEO of the new company called Tru Kids Brands, 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. But he acknowledged that many had been burned by the Toys R Us liquidation.

In the U.S., Toys R Us and Babies R Us continue to have incredibly strong brand affinity and loyalty with more than 9.5 million followers across their social media channels.

The toy retailer closed all of its United States locations in the summer of 2018.

According to Barry, the team is focused on bringing back the stores in a completely new way so the USA doesn't have to go another holiday season without the beloved brand.

Barry said he already is looking forward to the next holiday shopping season.

The new company also has plans to open 70 new stores internationally in Asia, India and Europe.