Too little, too late? Toys ‘R’ Us will open a pair of holiday shops after closing 800 stores last year.
Toys ‘R’ Us is making a comeback in the U.S., but James Zahn, senior editor of The Toy Insider, says parent company Tru Kids Brands shouldn’t even bother.
After disappointing sales in holiday 2017, Toys “R” Us decided to shutter its 800 stores in June 2018. In August 2018, a court-approved settlement for creditors, including vendors, was reached so that they would receive 22 cents on the dollar. They were owed about $800 million. “I’m pleased that we’ve been able to work with the new Toys ‘R’ Us joint venture to make sure these new jobs are quality jobs and that our former co-workers - many of whom are still out of work a year after the bankruptcy, are able to get first shot at these jobs,” said Giovanna De la Rosa a United for Respect leader in a statement. She was also a Toys ‘R’ Us employee for 20 years.
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