The former New York City flagship store for Toys "R" Us in seen in Times Square. The first post-bankruptcy location opened in New Jersey Wednesday. File Photo by Ezio Petersen/UPI |
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Nov. 27 (UPI) -- Returning just in the time for the holiday shopping season, a reconstituted version of retailer Toys "R" Us celebrated the opening of its first new store -- in New Jersey -- on Wednesday.
The store's famous mascot, Geoffrey the Giraffe, led a ribbon-cutting ceremony at the Westfield Garden State Plaza in Paramus, N.J., following opening remarks from Paramus Mayor Rich Labarbiera to launch the store. It's the first Toys "R" Us location under new owner Tru Kids Brands.
Formerly the best-known toy retailer in the world, the original incarnation of Toys "R" Us at its peak in the 1990s had more than 1,400 locations and claimed 25 percent of the global toy market. Following decades of decline, it filed for bankruptcy protection and had closed all of its remaining stores by 2018.
A group of former Toys "R" Us executives in February announced the founding of Tru Kids Brands in a bid to revive the stores on a more modest scale, beginning with the outlet in Paramus. A second location is set to open in Houston on Dec. 7.
"Toys 'R' Us is built into the fabric of childhood and for more than 70 years has been the most trusted source for toys and play," CEO Richard Barry said in a statement. "With the return of Toys 'R' Us stores in the U.S., we are bringing a highly engaging, experience-driven retail destination that celebrates play and deepens the connection between the world's best toy, play and entertainment brands and customers."
Significantly smaller than the former "big box" stores of the past, the new mall-based Toys "R" Us outlets feature "playscapes" where children can interact with Geoffrey the Giraffe. The firm has also created an e-commerce partnership with retail giant Target.
