- Toys “R” Us is plotting its return to the retail scene in a downsized format.
- The stores will average about 10,000 sq. ft.
Toys “R” Us is plotting its return to the retail scene, but in a more downsized format.
Tru Kids Brands, which bought the intellectual property, including the brand names of Toys “R” Us, Babies “R” Us, and Geoffrey the Giraffe following the chain’s bankruptcy filing and liquidation last year, plans to open a handful of U.S. locations in time for the holidays, reported The New York Post. The stores will average about 10,000 sq. ft.
Tru Kids is controlled by the investment firms Angelo Gordon and Solus Alternative Asset Management.
“We are a little startup company now,” Tru Kids CEO Richard Barry told the Post. Barry is the former global chief merchandising officer at Toys “R” Us.
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Tru Kids is headquartered in Parsippany, New Jersey. In addition to Barry, the management team includes several other former Toys “R” Us executives, including CFO Matthew Finigan, who previously served as VP and treasurer of Toys “R” Us; executive VP, global licensing and general counsel James Young, former executive VP and general counsel of Toys “R” Us; and senior VP, “R” consumer brands Jean-Daniel Gatignol, former senior VP of Toys “R” Us.
Date: April 29, 2019
Source: Chain Store Age