After several rumors and reports were swirling around last week, it seems Toys R Us is making a comeback, sort of. A press release from Geoffrey LLC went out last week basically saying they were acquiring everything as far as branding and intellectually property associated with Toys R Us and Baby R Us.
So, while everyone was distracted at NYCC, Geoffrey was over at the Fall Toy Preview in Dallas wearing a cape saying he was “back from vacation”. He was working at a booth aptly named “Geoffrey’s Toy Box”.
After reaching out to a few people there, the plan is to open locations under the “Geoffrey’s Toy Box” by the Holidays of this year. That already being a tall order, these new shops will be done as a “shop-within-a-shop” concept. So, they are basically opening mini-locations within larger retail stores for the Holidays. Much like KB toys was rumored to do earlier, or how a “Toy City” inside of Party City was talked about.
Toys R Us tweeted an update about their liquidation sale currently going one. Now might be your last chance to snag those big ticket items you’ve been waiting on.
While the chain has already begun closing stores, the remaining locations will begin holding going-out-of-business sales on Thursday, March 22, according to USA Today. They plan to hold the sales until June, or until inventory runs out. The company’s distribution centers, which supply the stores, will close before the stores do. Some big names manufacturers, such as LEGO and Mattel, have filed objections and are already pulling their stock so it wont be part of the liquidation.
It looks like the end is finally here. After news started swirling around last week, it looks like Toys R Us plans to draft plans to liquidate their remaining stores. It looks like the actual court hearing was delayed until Thursday according to Bloomberg. (more…)
Toys R Us plans to close 20% (182) of their stores as part of its Chapter 11 bankruptcy reorganization plan.
Going-out-of-business sales are scheduled to begin in February and be completed in April.
Check out the list below to see if your area is going to be affected.