After more than six decades, Toys “R” Us stores are no more, but that might not be the case according to a Facebook post. Former CEO Jerry Storch is working to reboot the retailer in the future. Though Geoffrey the giraffe may live on in several thousand hearts around the world, he may not be gone for good.
This leaves fans wondering, will Toys “R” Us make the change to online shopping? It doesn’t have the same feel to going to a store and being a Toys “R” Us kid, but it’s better than not being around at all. However, in a statement with Bloomberg, Storch revealed his future plans.
Storch’s plan centers on having several hundred stores that house both toy and baby brands under one roof.
For a successful revival, Storch’s group would have to win a bankruptcy auction for the chain’s intellectual property in about a month. The real estate portfolio is being sold separately. Frequently, when a retail chain sells off its brand names and logos, little is done with them. Competitors often buy up the rights to keep them from being used by another rival.
But that doesn’t appear to be the case with Toys “R” Us — a liquidation that’s leaving billions in revenue up for grabs. Competition for its brands, including Babies “R” Us, is expected. That interest illustrates how many observers saw the retailer’s business as a salvageable one, at least without the unsustainable debt load that pushed it into bankruptcy.
Any comeback is considered to face long odds because of how far the former market giant has fallen. There are also concerns that it might be too late to restart the business in time for this Christmas-shopping season, they said.”
It may be a while before we see Toys “R” Us return, but the plan is in the works.
We’ll keep you updated on what’s going on with the future of Toys “R” Us.