2 Attachment(s)
Toys R Us Reopens First Store After Bankruptcy Shutdown
Toys "R" Us is back… somewhat. The iconic children’s store chain opened its first new location in New Jersey’s Westfield Garden State Plaza on Wednesday. This comes two years after the company in charge of the store filed for bankruptcy, closing down over 700 outlets and rendering the beloved childhood staple effectively dead. Toys "R" Us originally opened in 1948, and at one time, operated over a thousand stores worldwide.
New life would come after Toys "R" Us’s global chief merchandising officer, Richard Barry, formed a new company named Tru Kids, with plans to acquire the rights to the chain and revive it during the bankruptcy in June 2018. This came to fruition once the deal was finalized in January, and the company announced plans to bring the store back to the U.S. Tru Kids then announced that Toys "R" Us would return to select malls in time for the holiday season, including Westfield Garden State Plaza.
Store mascot Geoffrey the Giraffe was on hand during the ribbon-cutting ceremony, CNN Business reports. The newly-revamped store, created via a partnership with designing company b8ta, features a more interactive and online-based approach, with a smaller range of items on shelves and access to a larger selection to order via in-store kiosks. In addition, there is also a tree house play area, a reading space, and a small movie theater for kids to have fun while their parents shop. This is all part of an effort to provide a more interactive and memorable experience, Barry claims. He said, “We… know kids and families are looking for things to do on the weekends or when school's out. We know parents and families really value play and the value of toys overall. As we thought about the strategy, we wanted to put all those things together.”
He hopes that this new approach, dubbed “Shop-o-tainment” by business partner and former Kmart CEO John Goodman (not the actor), will breathe new life into the troubled chain. Previously, a new rise in online chains like Amazon hampered sales. This led to the aforementioned bankruptcy. Barry and Goodman hope that, by capturing that interactivity in their own stores, Toys "R" Us can adapt to this changing retail world.
Provided the store in New Jersey does well, we could see new Toys "R" Us locations all over the country. Many have fond memories of their parents taking them to the large toy outlet. The idea of reliving that experience anew, even sharing it with their own children, is no doubt a heartwarming prospect. One thing is for certain: for now, at least, Toys "R" Us is back in time for the holidays, providing new fun for kids of all ages.
