The tale of Toys “R” Us is ever growing, despite it going out of business, and now the famed toy giant is in the spotlight once more as former executives attempt to bring it back under a new company called Tru Kids Inc.
The brand previously attempted to go with a store in a store model under the guise of Geoffrey’s Toy Box setups in existing stores. That led to places like Kroger having a few displays set up with toys with Geoffrey’s familiar face on the banner, and that is likely to continue, though now former execs are apparently reaching out to toy manufacturers thanks to an email obtained by the New York Post.
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A new firm called Tru Kids Inc. was created on Sunday and is made up of former Toys “R” Us executives that include legal counsel Jamie Young, as well as merchandising executive Matt Finnegan and financial executive Rich Ryan. That also includes Richard Barry, who is now the chief executive of the new company. The email was inquiring about setting up meetings with various suppliers and manufacturers at Toy Fair next month, where they would also discuss a comeback plan for the brand.
Tru Kids Inc. owns the rights to both Toys “R” Us and Babies “R” Us, as well as to Geoffrey the Giraffe, and in addition to continuing to service the remaining Toys “R” Us stores overseas they are also looking to open up pop-up Toys “R” Us stores as well as making more deals as they did with Kroger for Geoffrey’s Toy Box.
Since the bankruptcy filing, the company has been operating out of their old headquarters in Wayne New Jersey, a building that was not included in the liquidation.
As the article indicates, it might be awkward for Toys “R” Us executives at Toy Fair, as several of the companies they will be meeting with are still dealing with the fallout from the bankruptcy. That goes for toy giants Mattel and Hasbro as well, who have weathered the storm brought on by the bankruptcy of the world’s most well-known toy retailer but not without some losses, both financial and job wise.
It remains to be seen if Toys “R” Us can eventually start opening up stores once more of if Geoffrey’s Toy Box will be the most we see of the retailer for some time, though Toys “R” Us is still alive and well in Canada.
