Consumer

Toys R US plans second act under new name

/ CBS Chicago

(AP) — Toys R Us fans in the U.S. will see the iconic brand re-emerge in some form by this holiday season.

Richard Barry, a former Toys R Us executive and now CEO of the new company called Tru Kids Inc., is exploring freestanding stores, shops within existing stores as well as e-commerce.

Tru Kids, owned by former investors of Toys R Us, will manage the Toys R Us, Babies R Us and Geoffrey brands.

Toys R Us liquidated its businesses last year in the U.S. as well as several other regions including United Kingdom. Outside the U.S. Toys R Us continues to operate about 800 stores.

Tru Kids, based in Parsippany, New Jersey, will work with licensing partners to open 70 stores this year in Asia, India and Europe.

Copyright 2019 The Associated Press. All Rights Reserved. This material may not be published, broadcast, rewritten or redistributed.

First published on February 11, 2019 / 2:49 PM CST

© 2019 CBS Broadcasting Inc. All Rights Reserved.

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