Toys R Us

Toys 'R' Us has been sold ... Again

New York (CNN Business)Toys "R" Us is changing hands again, less than two years after Tru Kids Inc. bought it in a liquidation sale. WHP Global, a New York-based brand management company, announced Monday it has bought a controlling interest in Toys "R" Us' parent company and will now manage Tru Kids' business and growth. Terms of the deal weren't disclosed. "We are thrilled to be taking the reins of the world's leading toy brand at a time when the category is up 16% and consumer demand for toys is at an all time high," said WHP CEO Yehuda Shmidman in a press release. Toy sales have soared as bored families look for something to do. Plans for the brand weren't immediately revealed. However, Shmidman said the sale was a "natural fit" for WHP because it can use its "global network and digital platform to help grow Toys "R" Us and Babies "R" Us around the world." Tru bought a bankrupt Toys "R" Us in 2018 and later opened two new physical locations in New Jersey and Texas. However, they permanently closed in January with the company blaming the pandemic for its troubles. The two stores were supposed to represent a reinvention for the brand because they were smaller, sold fewer toys and the layout had interactive and playground-like environments for brands. Ultimately, the plan was to open around 10 of them in malls. Toys "R" Us' website remains operational and more than 700 stores outside of the United States are still open. WHP claims that the brand still generates more than $2 billion in global retail sales. WHP targets struggling retail brands and tries to revive them. Authentic Brands Group, Marquee Brands and REV all operate similarly as they find an increasingly number of well-known stores find themselves as appetizing acquisition targets because they're in financial distress as consumer habits change. Retailers Anne Klein and Joseph Abboud are already part of WHP's portfolio, which it says rakes in more than $3 billion in annual sales.

United States of America · 14 Mar 2021

New Store Opening

تم افتتاح محل تويزآراص في الأڤنيوز فرست أڤنيو | الدور الأول @toysrusme is now open at 1st Avenue | 1st Floor

Kuwait · 28 Nov 2017

New Store Opening

Join us for Toys R us opening event on Wednesday the 29th for lots of fun & play 🧚🏻‍♂️

Kuwait · 25 Nov 2017

Toys R Us hires law firm as it explores possible bankruptcy filing

Toys R Us has hired a law firm to help restructure its roughly $400 million in debt due in 2018, a move that could include the marquee toy store filing for bankruptcy protection, sources familiar with the situation said Wednesday. Addressing the retailer's debt load prior to the crucial holiday season could give its major vendors such as Mattel and Hasbro clarity into the company's long-term viability to help ensure the toymakers continue to stock its shelves throughout the holidays.Toys R Us has hired restructuring lawyers at Kirkland & Ellis to help address the looming payments, the people said. Hiring a law firm like Kirkland is not indicative of a bankruptcy filing, and many companies work with law firms to successfully refinance or restructure their debt without filing for protection. The company has already announced it is working with Lazard to help address its debt load, and it successfully refinanced some of its debt just a year ago. Still, it has become increasingly difficult for leveraged retailers to tap the refinancing market, as lenders have become spooked by the increasing number of retail bankruptcies. "As we previously discussed on our first quarter earnings call, Toys R Us is evaluating a range of alternatives to address our 2018 debt maturities, which may include the possibility of obtaining additional financing," Toys R Us spokeswoman Amy von Walter said in a statement. "We expect to provide an update about these activities, as well as the many initiatives underway to provide an outstanding customer experience in our global retail locations and webstore during the holiday season, during our second quarter earnings call." Toys R Us will have its second-quarter earnings call on Tuesday, Sept. 26. Toys R Us owners Kohlberg Kravis Roberts, Bain Capital Partners and Vornado Realty Trust either declined to comment or did not immediately have a comment. Kirkland also did not immediately have a comment. The potential restructuring comes amid increased competition from both brick-and-mortar and online players. Big-box stores such as Wal-Mart have for years driven down prices of toys to draw parents into their stores to buy other more expensive goods. E-commerce giant Amazon.com has become an increasingly formidable competitor. Toys R Us' baby-centered store, Babies R Us, meanwhile, has seen diaper sales fall as parents increasingly buy diapers through online subscription businesses offered by Amazon and other e-retailers. Wayne, New Jersey-based Toys R Us blamed intense promotional activity and slowing baby business sales for its disappointing 2016 holiday results. The company, which relies heavily on holiday purchases to support its year-round business, saw same-store sales drop 3.4 percent from the previous holiday season. The weaknesses have carried into the spring, with the company reporting in June that it had a net loss of $164 million in the fiscal first quarter of 2017, widening from $126 million a year earlier. Its same-store sales dropped 4.1 percent. Toys R Us had roughly $301 million in cash on its balance sheet as of April 29. Toys R Us has sought to address its challenges under the guidance of CEO Dave Brandon by expanding in Asia and investing in a new website and baby registry. It has also been downsizing its real estate footprint, including closing its Times Square flagship in 2015. The retailer announced in August that it will be opening a 35,000-square-foot temporary shop in the historic Knickerbocker Building in New York for the holiday season. The retailer has an option to renew the lease to extend its stay, a source familiar with the situation said. Toys R Us was taken private by KKR, Bain and Vornado in 2005 in a deal valued at $6.6 billion. Its owners had tried to take the company public, filing for an initial public offering in 2010, but later pulled it, citing challenging market conditions. At that time, the toy industry was struggling to deal with the increasing popularity of electronic gaming apps. A restructuring could help Toys R Us simplify a capital structure made complex by its trio of owners and get out of expensive leases. It would follow on the heels of several private equity-backed retailers that have filed for protection to tackle oversized store footprints and debt loads. Golden Gate Capital-backed Payless ShoeSource for example recently emerged from bankruptcy after shuttering roughly 700 stores across the U.S. with goals to grow in Latin America. Bain-backed Gymboree is closing roughly 350 stores in bankruptcy, in hopes of re-emerging with only its most lucrative stores.

United States of America · 5 Sep 2017

Toys R Us

قريبا افتتاح الفرع الثاني لمتجر تويز آر اص Toys"R"Us في الشويخ على طريق الدائري الرابع بجانب مركز السلطان ، يذكر ان تويز آر اص هو متجر متخصص بالعاب وملابس الاطفال وافتتح فرعة الاول في مول 360

Kuwait · 17 Sep 2012