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.
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.
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