Toys R Us has likened itself to “a little start-up company”, operating under the Tru Kids banner, as plans for the retailer’s comeback in time for the Q4 shopping period emerge.
The New York Post reports that Tru Kids Brands – a licensing firm formed last year by creditors of the ill-fated Toys R Us – plans to open a handful of US stores in time for the Christmas shopping season.
These smaller stores will span about 10,000 square feet each, a radical downsizing from the some 600 stores that were shuttered last year, which typically occupied 20,000 to 50,000 square feet.
“We are a little start-up company now,” said Tru Kids chief executive Richard Barry. Barry had not commented on where the new stores will open.
Controlled by the investment firms Angelo Gordon and Solus Alternative Asset Management, Tru Kids owns both the Toys R Us and Babies R Us brands, as well as the rights to Geoffrey the Giraffe.
The Toy R Us brand still operates more than 900 stores across Asia and Europe. Tru Kids said it will open 70 more stores overseas this year. In the US, Tru Kids operated Geoffrey’s Toy Box pop-up stores inside 600 Kroger grocery stores during the holidays.