According to a report by Bloomberg, Toys 'R' Us is coming back in time for the holidays this year.
Last year, the company went out of business and closed all of their stores. But according to the report, about a half-dozen new stores branded as Toys 'R' Us will open and a new e-commerce website will be launched in time for the Christmas rush.
The new physical stores will each be around 10,000 square feet which is about one-third of the size of the previous stores. The new stores will also have more interactive areas according to the report.
The original Toys 'R' Us was generating about $7B in sales per year in the US through its 700+ locations before they filed for bankruptcy in March 2018. Walmart, Target and Amazon ramped up their marketing for toys following Toys 'R' Us' demise.
It's unclear which toy manufacturers will be on board when the stores reopen. The asset management company that was in control of Toys 'R' Us when the company closed all of their stores kept the intellectual property of the brand which is why the new stores will keep the name.
Source: Bloomberg.com