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.
Tru Kids Inc., which is run by several former Toys R Us executives, announced Monday that it is the new parent company of the famous children's brands, among other brands, and will begin reopening stores this year.
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.
"We have an incredible team focused on bringing Toys R Us and Babies R Us back in a completely new and reimagined way, so the U.S. doesn't have to go through another holiday without these beloved brands," Tru Kids Inc. President and CEO Richard Barry said in a press release.
Barry said Toys "R" Us still has tremendous brand power and that there's still significant consumer demand for both store chains.
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"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.