Is Toys ‘R’ Us Coming Out of Retirement?
It may not be Christmas quite yet, but this could be as close as it gets.
For some reason, if you have NOT heard the news, Toys 'R' Us had recently filed for bankruptcy and began their transition in shutting down their toy stores across the country. Now, if you perhaps this is all breaking news for you for some odd reason, do yourself the favor and just forget about it.
According to WSJ.com, Toys 'R' Us and Babies 'R' Us are planning a revival to bring back the classic beloved toy and infant stores. It appears that the bankruptcy auction has been called off, which would have been the final stake to the brand name's heart.
The same group of investors who originally pulled the plug on the company is now attempting to bring it back.
WSJ tells us that according to Toys 'R' Us, they have released the following statement in regards to their "Reorganization Plan":
"A new, operating Toys ‘R’ Us and Babies ‘R’ Us branding company that maintains existing global license agreements and can invest in and create new, domestic, retail operating businesses” - Toys "R" Us
So what does this all mean? Let's just say that the closing of all 800 stores created quite the negative stir, leaving thousands jobless, a blistering hole in the industry and an incomplete toy platform for vendors across the world.
In the light of this news, I have to personally say that I am so happy to see a re-birth in this little piece of Americana pie. It's a rejuvenation of our youth and a bit of hope to workers, inventors, sellers and consumers alike.