Toys "R" Us

From Wikipedia, the free encyclopedia
Jump to navigation Jump to search
Toys"Я"Us
Privately held company
IndustryRetail
FateLiquidated in Chapter 12 Bankruptcy (Previous)
FoundedWashington, D.C., 1948 (Former) January 2019 (New)
DefunctApril 24, 2018 (United Kingdom) June 29, 2018 (United States, Previous)
HeadquartersWayne, New Jersey, U.S.
Area served
Worldwide
Key people
Gerald L. Storch, Chairman and CEO
ProductsChildren's toys
OwnerKohlberg Kravis Roberts
Bain Capital Partners LLC
Vornado Realty Trust
WebsiteToysrus.co.uk

Toys Я Us (founded in 1948) is a toy store. It had its headquarters in Wayne, New Jersey, United States. The company had around 875 Toys “R” Us and Babies “R” Us stores in the United States, more than 600 international stores, and over 140 licensed stores in 35 countries and jurisdictions. It controls the FAO Schwarz brand. It has its flagship store on Fifth Avenue in New York City. Toys "R" Us also has many e-commerce sites. Some of these are Toysrus.com, Babiesrus.com, eToys.com and FAO.com.[1] Kids "R" Us is a former clothing store just for kids established in Manchester, NH in 1983 and disestablished in 2003. In the 1999 website commercial, there was a probably 7 year old raincheck boy who dresses like Linus from Peanuts and is friends with his raincheck. Toys "R" us has toys for different ages.

On March 14, 2018, it was revealed that all Toys "R" Us stores in the United Kingdom would close.[2][3] The next day, it was announced that Toys "R" Us is officially going out of business and selling all 800 of its U.S. stores. In addition, all Toys "R" Us stores worldwide would be sold off.[4][5] At the time, toy maker MGA Entertainment has made a bid to take over the company's stores in Canada, but it failed.[6]

On March 22, 2018, its founder Charles Lazarus died aged 94 years.[7]

The remaining Toys "R" Us stores closed on June 29, 2018 after 70 years. In October 2018, Toys "R" Us announced that it would return, and the company did so by opening 2 new stores in the United States a year later.

References[change | change source]

  1. "http://www.toysrusinc.com/investor-relations/". External link in |title= (help); Missing or empty |url= (help)
  2. Wood, Zoe (March 2, 2018). "Toys R Us slashes prices as closing-down sale begins". The Guardian.
  3. Butler, Sarah (March 14, 2018). "Toys R Us to shut all UK stores, resulting in 3,000 job losses". The Guardian.
  4. Thomas, Lauren (March 15, 2018). "Toys R Us is closing all of its US stores. Here's a map of where they are". CNBC. Retrieved March 15, 2018.
  5. Hall, Phil (March 15, 2018). "Toys R Us going out of business, closing all stores". Westfair Online. Retrieved March 15, 2018.
  6. "Toy maker MGA Entertainment bids for Toys 'R' Us Canada". L.A. Biz Journal. 2018-03-19. Retrieved 2018-03-22.
  7. "Bloomberg - Are you a robot?". www.bloomberg.com.