Nearly 100 jobs to go in Toys R Us distribution hub closure

Nearly 100 jobs to go in Toys R Us distribution hub closure

Toy's "R" Us will soon be no more, but another long-lost toy store could soon fill the void.

"We are grateful for the hard work of Toys R Us staff during this very difficult period".

Strategic Marks, a company that buys and revitalizes defunct brands, owns the KB name and plans to open 1,000 pop-up KB Toys stores for Black Friday and the holiday shopping season.

Kassoff said he's working on deals with Hasbro, Mattel and 200 smaller toy makers "that have inventory but no place to sell it", according to CNN.

"We're talking to companies that know how to do it, they have a methodology, they're used to rolling out stuff real quickly", he said.

More news: Southampton warned Man Utd of Shaw dietary habits
More news: OnePlus 6 Pricing And Specifications Leaked On Weibo
More news: Oil Prices Rise On Middle East Tensions, Healthy Demand

Kassoff said in a post on Linkedin that if the pop-up stores perform well, it's possible some locations could stay open permanently. Overall, the store was a sad vision of what's to come as Toys R Us closes locations.

Toys R Us stores in all these global markets are now open and serving customers. It soon ballooned into one of the country's biggest toy retailers.

The company had filed for bankruptcy last fall.

The Toys R Us shutdown comes after them retail chain failed to find a buyer or restructure its debt in the wake of its bankruptcy late past year.

"We are therefore implementing an orderly process to shutter our USA operations and will pursue going concern sales or reorganizations of certain of our global businesses, while our other worldwide businesses consider their options", he added.

Related Articles