Toys "R" Us aims to open 10 stores around the U.S. by 2020
Toys “R” Us kids can rejoice: it’s officially making a comeback.
The iconic toy retailer is set to open two permanent stores stateside in November, according to a press release from software-powered retailer b8ta and Tru Kids Brands, the company that continues to revamp Toys “R” Us following its over 700 store closures due to bankruptcy.
The first two stores, which will be smaller in size, will be located at Simon Property Group’s Galleria mall in Houston, Texas, and at Unibail-Rodamco-Westfield’s Garden State Plaza mall in Paramus, New Jersey.
Geoffrey the Giraffe is also expected to make appearances.
“We are excited to bring back Toys ‘R’ Us in an immersive way, focused on creating a fun and engaging experience for kids—and adults, too,” said Phillip Raub, the co-founder and president of b8ta and Interim co-CEO of the Toys “R” Us joint venture.
Overall, Toys “R” Us aims to open 10 stores around the U.S. by 2020, with the goal of opening another flagship in New York or California.
The news comes over a year after the retailer shut down the remainder of its stores in the United States after filing U.S Bankruptcy court documents and reportedly spending $50 to $100 million a month to operate its stores.
Toys “R” Us filed for Chapter 11 bankruptcy in an effort to shed $5 billion it had accumulated in debt and reinvest the $400 million it was spending a year to pay that off, into its stores, CNN reported.
Toys “R” Us was once one of the go-to places for families to do their toy shopping, but the retailer has struggled to compete against online stores like Amazon, as well as big chain companies like Walmart and Target.