It’s the iconic toy store we grew up with, and now Toy ‘R’ US is set to make a big return to the British High Street.
In 2018, shoppers were gutted when all of the 100 stores across the UK were forced to close as a result of the business collapsing and failing to find a buyer to save the shops.
In a statement at the time, Simon Thomas, at Moorfields, said: “We have made every effort to secure a buyer for all or part of the Company’s business. This process attracted some interest, but ultimately no party has been able to move forward with a formal bid prior to the expiration of the stated deadline.”
Over 2,000 UK employees were consequently made redundant due to the store closures.
Although the UK side of the company collapsed, Toys ‘R’ Us continued business in 900 stores across 25 countries.
But now, Toy ‘R’ US is set to rise from the dead with owner WHP Global signing an agreement with Toys ‘R’ Us Australia who will take on the brand’s sensational UK relaunch, The Daily Mirror reported.
Earlier this year, WHP Global acquired a controlling interest in Tru Kids - the parent company of Toys ‘R’ Us and Babies ‘R’ Us.
Over the next several months, under the New York-based brand acquisition and management firm, the UK return will begin with online sales that will operate from Australia to begin with.
A return to “physical retail” in the UK is expected from 2022, along with online shopping.
Yehuda Shmidman, the chairman of WHP Global and Toys ‘R’ Us, said: “Toys ‘R’ Us today is a vibrant business with over 900 stores and e-commerce sites across 25-plus countries generating over US$2 billion a year in sales and growing, especially with the new launches underway for both the US and UK markets.”
Louis Mittoni, boss of Toys ‘R’ Us ANZ, said: “My team and I are looking forward to developing technical and commercial relationships with UK-based vendors and partners and to engage with the many loyal Toys ‘R’ Us former customers and fans in the UK.”
As the UK stores first opened back in 1985, Toys ‘R’ Us has been part of millions of British childhoods over the years.
So understandably, fans of the shop were ecstatic to hear that the chain was making a big comeback.
MY CHILDHOOD IS COMING BACK https://t.co/2K7tLIfZ1y
It seems the excitement was all too much for some, who are keen to get back into the toy store this Christmas (sadly, the UK store revival isn’t on the cards until next year - next Christmas, perhaps?).
OMG now I know where my grown ass is shopping for Christmas https://t.co/fEiPsl791o