Kids favourite Toys ‘R’ Us is on the brink of making a comeback to the high street in 2022 after plans revealed a revival is on the cards.
The toy shop collapsed in 2018 and shut every one of the 100 UK stores, however, owner WHP Global has lined up a fresh deal with the Australian Toys ‘R’ Us to relaunch in the UK.
It is anticipated that online sales will start in the new few months and will begin from Australia.
From next year the UK group will establish itself with teams, offices and logistics, before it marks it’s “physical return” as well as online retail.
Toys ‘R’ Us launched in the UK in 1985, but in 2017 the US parent company filed for bankruptcy after debts reached more than £3.5billion.
Its UK arm went into administration on February 28, 2018 after failing to attract a buyer, with thousands of workers losing their jobs, according to Mirror Online.
At the time, Moorfields, the administrator managing the business, said it had made “every effort” to secure a buyer for all or part of the Toys ‘R’ Us brand, however this subsequently collapsed.
In a statement, Simon Thomas, at Moorfields, said: “We have made every effort to secure a buyer for all or part of the Company’s business. This process attracted some interest, but ultimately no party has been able to move forward with a formal bid prior to the expiration of the stated deadline.”
But despite its collapse, the chain continued to run more than 900 stores across 25 countries – many of which are still trading.
“We are grateful for the hard work of Toys ‘R’ Us staff during this very difficult period and will be providing support where we can to those who have been made redundant,” the statement added.
“All of the remaining 75 Toys ‘R’ Us and Babies ‘R’ Us stores will remain open until further notice. We’re extending the nationwide discounting programme and would like to encourage customers to take advantage of the special offers available in store while stock levels remain high.”
The final branch closed in 2018 but the brand has more than 900 stores across 25 countries – many of which are still trading.
In August, the owner of HMV announced he would buy the Canadian branch of the toystore.
HMV owner Doug Putman has said he would buy Toys ‘R’ Us in Canada, as well as its sister company, Babies R Us.
While Putman has not announced plans to return Toys ‘R’ Us to the UK, he has said he would look at any opportunities that make good business sense.
“Toys ‘R’ Us and Babies R Us are extremely strong brands that have been in great hands over the past three years,” Putman said.
“Since its split from the US, we’ve watched the way in which the company has grown and focused on the Canadian customer.
“Much has been achieved and we’re excited to help to drive the business forward.”
