Toys R Us making comeback in time for the holidays

Toys R Us making comeback in time for the holidays

Shoppers walk towards to a Toys R US retail store at the Harbour City on August 23 2018 in Hong Kong. Photo: S3studio/Getty Images

PARSIPPANY, N.J. — The lovable mascot Geoffrey the giraffe is back as a new company resurrects the iconic Toys R Us toy store along with Babies R Us and other brands.

Tru Kids Inc., which is run by several former Toys R Us executives, announced Monday that it is the new parent company of the famous children's brands, among other brands, and will begin reopening stores this year.

Content Continues Below

"We have an incredible team focused on bringing Toys R Us and Babies R Us back in a completely new and reimagined way, so the U.S. doesn't have to go through another holiday without these beloved brands," Tru Kids Inc. President and CEO Richard Barry said in a press release.

TRENDING NOW:

Last year the iconic toy company closed its doors after declaring Chapter 11 bankruptcy in 2017 following declining sales and stiff competition from online giant Amazon.

Barry said Toys "R" Us still has tremendous brand power and that there's still significant consumer demand for both store chains.

"We have a once-in-a-lifetime opportunity to write the next chapter of Toys R Us by launching a newly imagined omni channel retail experience for our beloved brands here in the U.S. In addition, our strong global footprint is led by experienced and passionate operating teams that are 100% focused on growth," Barry said.

Former Toys R Us executives will help run the rebooted children’s retail operations.

<p>Shoppers walk towards to a Toys R US retail store at the Harbour City on August 23 2018 in Hong Kong. Photo: S3studio/Getty Images</p>

Shoppers walk towards to a Toys R US retail store at the Harbour City on August 23 2018 in Hong Kong. Photo: S3studio/Getty Images

Shoppers walk towards to a Toys R US retail store at the Harbour City on August 23 2018 in Hong Kong. Photo: S3studio/Getty Images