Summary List PlacementThe last 2 Toys ‘R’ Us shops in the United States have reportedly closed, bringing to an end a two-year effort to re-establish the onetime behemoth’s retail footprint..
The Toys ‘R’ United States brand name, bought in 2019 by Tru Kids, will supposedly continue as an online merchant. The brand is active on Twitter, YouTube, and other social channels, but its retail effort was hindered by the rise of COVID-19, according to CNBC..
” Customer demand in the toy classification and for Toys ‘R’ Us stays strong and we will continue to purchase the channels where the client wants to experience our brand,” a Tru Kids spokesperson told CNBC.
The final shops remained in Texas and New Jersey, Bloomberg reported on Friday..
After its first shop opened in 1957, Toys ‘R’ Us became a nationwide chain of more than 700 US places. In the 1980 s and 1990 s, the business’s advertisements saturated kids’s TV, saying, “I don’t wan na mature, I’m a Toys ‘R’ Us kid.”
It filed for Chapter 11 insolvency security in September2017
At the time, the business positioned some blame on Amazon, Walmart, and Target, stating online sellers had developed a “best storm” that drove Toys ‘R’ Us into personal bankruptcy..
The following March, it told staff members it would be closing all retail locations in the US. Its UK arm likewise announced strategies to liquidate its organization, closing about 100 stores..
Read more: A ‘tsunami’ of retail personal bankruptcies will sweep the US and drown courts in Chapter 11 filings, legal representative says.
In February 2019, newly formed Tru Kids said it planned to restore the brand name. In July 2019, the company opened brand-new areas in Houston, Texas, and Paramus, New Jersey..
The Houston shop closed on January 15, and the New Jersey store closed on Tuesday, The Associated Press reported.
In 2020, the renewed company relaunched its website in partnership with Amazon.
Tru Kids didn’t instantly respond to a request for comment on Saturday. Join the discussion about this story” NOW WATCH: Why purebred horse semen is the world’s most expensive liquid