After WHP Global, a company that manages other brands, acquired Toys ‘R’ Us, which was announced on Monday, it seems like the toy brand that filed for Chapter 11 in September 2017 is ready to re-emerge once again.
As WHP acquired Toys ‘R’ Us, they also acquired Babies ‘R’ Us as well as the Geoffrey the Giraffe brands. The chairman & the Chief Executive Officer of WHP Global ,Yehuda Shmidman, told CNBC that Toys ‘R’ Us is ready to return with full force.
We’re in the brand business, and Toys R Us is the single most credible, trusted and beloved toy brand in the world. We’re coming off a year where toys are just on fire. … And for Toys R Us, the U.S. is really a blank canvas.
Shmidman also took the Vice Chair at Tru Kids, which bought most of the intellectual property and brands from Toys ‘R’ Us. After the declared bankruptcy and liquidation of Toys ‘R’ Us, all of their stores were closed shut in the UK as well as the U.S.
After two stores were opened up in U.S. last year, they couldn’t get any traffic, which was likely caused by the COVID-19 pandemic, and they had to close down as well. They had Target-powered website that redirects to Amazon so that the company also keeps a steady profit through e-commerce. Now that the economy has started to recover, it is high time for Toys ‘R’ Us to return.