ORLANDO, Fla. — Toys R Us kids rejoice, Geoffrey the giraffe may be back in time for the holidays.
- Tru Kids Inc. is run by former Toys R Us executives
- Company wants to open physical Toys R Us stores
- Also looking at new online sales platform
A new umbrella company called Tru Kids Inc. announced Monday that the longtime toy store would be making its comeback. The new company will be led by Richard Barry, the former global chief merchandising officer for the company.
While the details are still being worked out, the new group is looking at opening physical stores that will likely be smaller than the original Toys R Us properties. There may also be stores within stores, along with a new platform for online sales.
Toys R Us liquidated its United States properties last year after failing to get out from billions of dollars in debt. The company continued to operate in international markets, however.
In October a group of investors bought Toys R Us at auction and brought on a team of former TRU executives, including Barry, to manage the new company.
Tru Kids says despite efforts from big stores like Walmart and Target last holiday season to expand toy aisle, much of the market share for Toys R Us is still up for grabs, which gives TRU an opening.
Tru Kids says it will open 70 new stores in Asia, India, and Europe, but does not have the details yet for new stores in the United States.
Information from the Associated Press was used in this report.