Final curtains for Toys “R” Us in the United States: all the stores have closed and 30,000 employees are laid off. Against all odds, some however still hope for a second life for the troubled chain.
Former CEO raises hopes
As of this week, the last remaining US stores of the chain are staying closed – almost a year after it was declared bankrupt in September, having almost 5 billion dollar (4.2 billion euro) of debts. Former CEO Gerald Storch still believes the ailing chain can be saved, the New York Post understands. However, it is far more likely that someone buys the intellectual property (i.e.: the rights to use the famous name and logo). The retailer has until August to see if this option is possible.
Speculations about who would buy the name and logo are rife: will it be Amazon, that can launch the chain into the digital age and itself into toy store stardom? Or will a smart businessman use the brand to launch his own pop-up toy store in the holiday season? Or will a traditional chain (like Target) rebrand its toy corners into Toys “R” Us shop-in-shops? Founder Charles Lazarus will not have to worry: he passed away – along with his chain – in March.
