The toy store Toys ‘R’ Us is opening a new store… again
The toys are back. Or will they be?
Toys ‘R’ Us, which has gone into liquidation in the US, Europe and Australia, is planning to reopen as a kids’ clothing retailer. This time in the heart of New York City.
“We plan to reopen a handful of stores that are in good locations after remodeling to create even more customer-friendly shopping experiences for the neighborhood,” Kristin Thomas, a spokeswoman for the chain, said in an email.
The retailer planned to open 10 new stores with 10 to 12,000 square feet of selling space in Manhattan by early 2020, she said.
People stand in line to make purchase at a Toys ‘R’ Us in Valley Stream, New York, on 27 August 2017. Photograph: Frank Franklin II/AP
The company, once the largest toy retailer in the US, filed for bankruptcy in September 2017. After two months of talks with creditors and a slow liquidation, the company reported selling $196m worth of merchandise in the final week of May, nearly the same amount it sold over the four previous weeks. In the past two weeks, 84% of the company’s 86 remaining stores were open, the company has said.
A similar undertaking in 2010 with the larger retailer JC Penney, where it redesigned its New York flagship store, also failed to generate the sales returns that management had expected.