KB Toys is coming back. Here's where and when you'll find it
22 March, 2018, 01:37 | Author: Salvatore Jensen
NPD's Consumer Tracking Service has found that Toys "R" Us represented approximately 12% of U.S. toy industry sales in 2017. With majority of their 3000+ stores located in malls, the teen jewelry company has been suffering from a decline in traffic in shopping malls. KB Toys is counting on it.
"My assumption is that there's about half a billion dollars worth of toys that have been produced for Toys "R" Us with no place to go", Strategic Marks president Ellia Kassoff told CNNMoney.
Are you already missing Toys "R" Us?
It's expected to take at least 14 weeks for the company to clear its entire inventory, but some stores may close sooner, depending on how much they've sold.
Some Toys "R" Us investors are mulling whether to salvage some stores as part of a slimmed-down version of the business, the New York Post reported.
Toys "R" Us officials said earlier this month that the New Jersey-based toy retailer would close or sell all of its more than 700 store locations after weak holiday sales and a fruitless search for a corporate buyer.
Simon Thomas, joint administrator and partner at Moorfields, said: "It is with great regret that we have made the hard decision to make 98 people redundant at the company's distribution centre in Coventry". Toys "R" Us has reportedly weighed a plan to save 200 of its strongest stores, in addition to keeping its Canadian business open. As an ironic historical footnote, at the time of its first bankruptcy, the retailer was owned by Bain Capital, one of Toys R Us' private equity owners.
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