Toys R Us announced that it will open a store in New Jersey and one in Texas, both of them in time for the holidays.
Tru Kids Brands, a company founded in January by former Toys R Us executives, is now managing the Toys R Us, Babies R Us and Geoffrey brands. Toys R Us closed its U.S. stores months after filing for Chapter 11 reorganization, in the fall of 2017, crushed by debt and pressured by competition from discount department stores such as Walmart. The company continues to operate stores overseas and generated roughly $3 billion in global sales in 2018, reports AP. Lenders Solus Alternative Asset Management and the Angelo Gordon investment firm, among others, took over the company's Toys R Us, Babies R Us and Geoffrey banners.
The Galleria, in Houston, is one of two malls picked for the new Toys R Us stores
The stores — to be located in Simon's The Galleria mall, in Houston; and in Unibail-Rodamco-Westfield's Garden State Plaza, in Paramus, N.J. — will be operated on a consignment model: Toy manufacturers and suppliers will own all the merchandise and receive all proceeds from sales.
By Edmund Mander
Director, Editor-In-Chief/SCT
