Toys “R” Us has been sold again after going bankrupt in 2018 and closing its locations in America due to the COVID-19 pandemic. The new owner plans to reopen the toy wonderland‘s U.S. stores.
Tru Kids Inc. purchased the store in a liquidation sale in 2018, and three years later, WHP Global, a New York-based brand management firm, acquired a majority interest in Toys “R” Us’ parent company, and will now oversee Tru Kids’ business and development.
“We are delighted to be taking the helm of the world’s leading toy brand at a time when the category is up 16 percent and market demand for toys is at an all-time high,” WHP CEO Yehuda Shmidman said in a press release.
Although the Toys “R” Us website is still up and running, and over 700 stores outside of the United States are still open, WHP is looking to reopen stores in the United States in time for the next holiday season.