Toys R US plans second act under new name
NEW YORK (AP) — Toys R Us fans in the U.S. will see the iconic brand re-emerge in some form by this holiday season.
Richard Barry, a former Toys R Us executive and now CEO of the new company called Tru Kids Inc., is exploring freestanding stores, shops within existing stores as well as e-commerce.
Tru Kids, owned by former investors of Toys R Us, will manage the Toys R Us, Babies R Us and Geoffrey brands.
Toys R Us liquidated its businesses last year in the U.S. as well as several other regions including United Kingdom. Outside the U.S. Toys R Us continues to operate about 800 stores.
Tru Kids, based in Parsippany, New Jersey, will work with licensing partners to open 70 stores this year in Asia, India and Europe.