Author Topic: Toys “R” Us To Wind Down U.S. Business  (Read 2609 times)

Offline cabler30

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Re: Toys “R” Us To Wind Down U.S. Business
« Reply #45 on: May 21, 2018, 06:19:33 PM »
Wonder if they will find any buyers for the company. guess they want too much for the company for it to stay in business. have not been to the store close to me since last visit, so not sure they been able to get rid of much since was in ways alot to buy cause everything was not as cheap to start. and not everything was marked down as traffic expected to start.


Offline AzT

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Re: Toys “R” Us To Wind Down U.S. Business
« Reply #46 on: June 11, 2018, 09:52:47 AM »
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toysrus Final Days! Now Save 50-70% OFF Storewide!!! Amazing Deals!! Time to fill up a cart!!

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Offline chocolateshake

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Re: Toys “R” Us To Wind Down U.S. Business
« Reply #47 on: June 11, 2018, 10:31:12 AM »
I'm keeping an eye on the Darth Vader centerpiece.  There's a bunch of them at my store.  Only 50% off so far which still makes it more expensive than the one I already got from Target.

Offline AzT

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Re: Toys “R” Us To Wind Down U.S. Business
« Reply #48 on: June 19, 2018, 11:15:00 AM »
Not over yet?

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As Toys ‘R’ Us fades to black, scores of businesses are scrambling to keep it alive.

The bankrupt retailer says that interest in its intellectual property, which includes its Babies ‘R’ Us, Toys ‘R’ Us and Geoffrey trademarks, is so high that it needs more time to discuss the matter with potential bidders, according to court documents. The company says that more than 115 companies, including “major retailers,” want to buy its brands and that it has had “substantive communication with over 85 such parties.” An auction date to sell its US intellectual property was pushed back last week to Aug. 6 from Monday and the court is allowing potential bidders to acquire the company’s international property assets during the auction as well. That includes its Asia division, for which Toys ‘R’ Us has received several bids of more than $1 billion, according to the company’s lawyer. One potential bidder is former Toys ‘R’ Us Chief Executive Officer Gerald Storch, who headed the company from 2006 to 2013 and is working with several investor groups, The Post previously reported.
"[He] was to tell that story once, to one person only, and much later in his life." - Fred Saberhagen

Offline chocolateshake

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Re: Toys “R” Us To Wind Down U.S. Business
« Reply #49 on: June 20, 2018, 03:39:30 PM »
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Not over yet?

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I think it's certain that the stores are dead.  That's not going to change.  What companies are interested in buying is the brand, the name.  That happens all the time when companies go under.  That's why Kodak, Polaroid, Circuit City and many others are still around.  The companies went out of business long ago.  But people buy the names to use on other products.  Why wouldn't they?  It takes time and capitol to get brand recognition.  Why not buy it for cheap if you can?

Offline AzT

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Re: Toys “R” Us To Wind Down U.S. Business
« Reply #50 on: June 23, 2018, 04:49:35 PM »
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Offline Angology

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Re: Toys “R” Us To Wind Down U.S. Business
« Reply #51 on: June 23, 2018, 05:03:44 PM »
Went for our last trip today. It was pretty sparse, but we found a couple of cool things. It's definitely a study in what properties are over-saturating the market, or are not very popular. It was very sad though. We have been frequented that TRU since it opened. It will help my LCS, at least, as I will be going there more often for my toy fix. :)

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Offline AzT

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Re: Toys “R” Us To Wind Down U.S. Business
« Reply #52 on: June 29, 2018, 06:12:40 AM »

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Offline AzT

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Re: Toys “R” Us To Wind Down U.S. Business
« Reply #53 on: October 06, 2018, 04:09:04 PM »
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Guess who's back? He’s been traveling across the globe for the past few months but now #GeoffreysBack and once again ready to set play free for children of all ages. Share some of your favorite memories and get ready to make a whole lot of new ones! You are not allowed to view links. Register or Login

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Geoffrey, LLC’s Assets to Be Acquired by Its Secured Lenders

WAYNE, NJ – October 2, 2018 – Geoffrey, LLC, Toys “R” Us, Inc.’s intellectual property holding company subsidiary, announced today that it is moving forward with a plan for substantially all of its assets to be acquired by a group of investors led by Geoffrey, LLC’s existing secured lenders.

The announcement was made following a five month marketing effort by Boston-based Consensus, an investment bank retained to market the assets of Geoffrey, LLC, that resulted in several formal and informal proposals to acquire the intellectual property assets. After considering such proposals, it was determined that the proposal from the existing term lenders was meaningfully higher and better than any other global bid or the sum of the bids received on individual assets. The transition of the business to its new owners is pending approval of the United States Bankruptcy Court and all major creditor constituencies are supportive. Geoffrey, LLC thanks all parties that participated in discussions with the company over the prior months, particularly those that submitted proposals, for their thoughtful and diligent engagement.

Geoffrey, LLC, as reorganized, will control a portfolio of intellectual property that includes trademarks, ecommerce assets and data associated with the Toys “R” Us and Babies “R” Us businesses in the United States and all over the world, including a portfolio of over 20 well-known toy and baby brands such as Imaginarium, Koala Baby, Fastlane and Journey Girls. The reorganized company will own rights to the Toys “R” Us and Babies “R” Us brands in all markets globally, with the exception of Canada. It will also become the licensor of the brands to the company’s existing network of franchisees operating in countries across Asia, Europe and the Middle East, and in South Africa.

In addition to continuing to service these markets, the new owners are actively working with potential partners to develop ideas for new Toys “R” Us and Babies “R” Us stores in the United States and abroad that could bring back these iconic brands in a new and re-imagined way. Geoffrey LLC will provide additional detail on this front as it becomes available.

For more information please contact:

[email protected]
973-617-5900

Michael Freitag / Aaron Palash
Joele Frank, Wilkinson Brimmer Katcher
Tel: (212) 355-4449

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Offline AzT

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Re: Toys “R” Us To Wind Down U.S. Business
« Reply #54 on: November 13, 2018, 07:53:43 AM »
Participating store list:

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Offline AzT

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Re: Toys “R” Us To Wind Down U.S. Business
« Reply #55 on: January 25, 2019, 07:35:48 AM »
Tru Kids Inc. -? :o

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A bid to bring Toys ‘R’ Us back from the dead is stirring again.

Former executives at the bankrupt toy chain — which liquidated all of its US stores last year — began actively reaching out to toy manufacturers this week to discuss a comeback plan for the brand, The Post has learned.

According to an email obtained by The Post, a new firm called Tru Kids Inc. was launched on Sunday, armed with the ownership rights to the Toys ‘R’ Us and Babies ‘R’ Us trademarks, as well as the company’s Geoffrey the Giraffe mascot.

According to the email, execs at the new company — whose new chief executive is Richard Barry, the former chief merchandiser of the iconic retailer — were looking to set up meetings at Toy Fair New York, the industry’s biggest US trade show, which begins Feb. 16.

The elbow-rubbing could get awkward, insiders said, as many suppliers have blamed some of those same executives for their losses associated with the Toys ‘R’ Us bankruptcy. Some vendors recently contacted by Tru Kids executives are weighing whether to do business with the company.

“Almost everyone at the show got burned by Toys ‘R’ Us,” one toy executive said.

Tru Kids executives just returned from Hong Kong, where toy buyers shore up their final orders for the new year, in an effort to interest retailers, including their own franchisees, in their private-label products, sources said.

While the chain’s stores liquidated nationwide last summer, a team of ex-Toys ‘R’ Us execs under Barry has been quietly collecting licensing fees and servicing the company’s overseas stores — which before the company’s 2017 Chapter 11 filing included more than 750 outlets across Canada, Western Europe and Japan.

Insiders say the skeleton crew of ex-Toys ‘R’ Us execs has been working out of the company’s old headquarters in Wayne, NJ, at One Geoffrey Way, a building that never got sold in the liquidation.

The executive team includes former legal counsel Jamie Young and other merchandising and financial executives including Matt Finnegan and Rich Ryan, the email said.

Tru Kids “will service the many Tru stores around the globe,” the email said, as well as its Geoffrey line of private label toys and its Geoffrey’s Toy Box kiosks, which were launched inside Kroger supermarkets during the holidays.

The trademarks belong to a group of hedge funds, including Solus Alternative Asset Management and Angelo Gordon. An auction was held in October to sell the brands, which served as collateral on their loans to the retailer.

At least two groups of bidders offered to buy the brands, but their offers got rejected, according to a source, who added that the lenders petitioned the court to say that they wanted to retain the assets, and they weren’t required to accept the highest bid.

Tru Kids also is interested in opening pop-up Toys ‘R’ Us stores and striking deals with other retailers like Kroger.

“They are trying to get some value from the intellectual property,” said a source.

Tru Kids did not respond to a request for comment.
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Offline AzT

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Re: Toys “R” Us To Wind Down U.S. Business
« Reply #56 on: February 11, 2019, 07:41:02 AM »
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Toys ‘R’ Us has officially emerged as a new company—Tru Kids Brands—with new leadership and a new retail strategy that will include an omnichannel approach and smaller footprint.

As of January 20, 2019, the new company, Tru Kids Inc., doing business as Tru Kids Brands, went into effect as the parent company of Toys ‘R’ Us, Babies ‘R’ Us, the well-loved mascot Geoffrey the Giraffe along with more than 20 established consumer toy and baby brands.

Richard Barry, the former global chief merchandising officer at Toys ‘R’ Us, will serve as president and CEO of Tru Kids Brands. An experienced management team is also in place that includes Matthew Finigan as CFO, James Young as executive vice-president of global license management and general counsel, and Jean-Daniel Gatignol as senior vice-president of global sourcing and brands. Brand management veteran Yehuda Shmidman will serve as vice chairman to advise on global strategy and execution. Shmidman is the CEO of Wave Hill Partners, and the former CEO of Sequential Brands Group.

As the realities of Q4 2018 toy sales come to light, Barry says the newly formed company is seizing this moment as an opportunity to tap into the continued strong affinity for the Toys ‘R’ Us and Babies ‘R’ Us brands. In the U.S., the brands have more than 9.5 million followers across their social media channels. In Asia, Europe, Africa and the Middle East, the brands generated more than $3 billion in global retail sales in 2018 across more than 900 stores and e-commerce businesses in more than 30 countries.

“As we start the year there is a lot to be excited about,” Barry says. “We have a healthy and growing global business with great partners that are 100 percent focused on opening more stores and e-commerce channels in their respective markets. We have an experienced team with unmatched industry expertise in the toy and baby space and a clear understanding post-holiday of the opportunity that still exists in the U.S. marketplace.

Looking forward, the company’s No. 1 priority will be to “solidify the U.S. retail strategy for Toys ‘R’ Us and Babies ‘R’ Us,” says Barry. “While I can’t say today what that exact strategy is, we do know that we will have an omnichannel approach that is tech immersive and experiential with a smaller footprint. I’ve spent my entire adult career working at Toys ‘R’ Us and feel proud to be a part of ensuring the next chapter of this iconic brands lives on.”

As of now, global partners include Al Futtaim Sons Co. LLC (UAE), Green Swan (Iberia), Keshet-Hypertoy Ltd (Israel), Lotte Shopping Co. Ltd (S. Korea), Marketing Services and Commercial Projects Operation Company (Saudi Arabia), Tablez & Toyz Private Ltd. (India), and Toys (Labuan) Holding Ltd. in partnership with Fung Retailing Ltd. (Asia). The company will work closely with each to expand the Toys ‘R’ Us and Babies ‘R’ Us businesses in their respective markets as well as actively seek opportunities to bring the brands to new and emerging territories.

These global partners are set to open 70 stores in 2019 in Asia, India and Europe and develop new e-commerce platforms in several key markets.

Tru Kids will be headquartered in New Jersey, just as the original company was, with a skilled team that will include returning Toys ‘R’ Us employees. Tru Kids will serve as the parent of brands including Toys ‘R’ Us, Babies ‘R’ Us, Geoffrey the Giraffe, and house brands Journey Girls, Fastlane, True Heroes, You & Me, Imaginarium, and Just Like Home.

“Despite unprecedented efforts to capture the U.S. market share this past holiday season, there is still a significant gap and huge consumer demand for the trusted experience that Toys ‘R’ Us and Babies ‘R’ Us delivers,” says Barry.

Toys ‘R’ Us announced its plans to liquidate its U.S. stores last March. Further updates on the Tru Kids Brands’ U.S. business strategy are expected to follow.
« Last Edit: February 11, 2019, 11:59:33 AM by AzT »
"[He] was to tell that story once, to one person only, and much later in his life." - Fred Saberhagen