Toys R Us is looking to effectively close all their stores after a failed bankruptcy recovery. The toy company is looking to shut down its U.S. stores, but a silver lining is that the brand is looking to live on along with their mascot, Geoffrey the Giraffe.
According to reports, the brand Toys R Us and its iconic mascot Geoffrey the Giraffe, are looking to be bought by multiple investors. The company’s brand is a pretty sought after as it carries a huge reputation and a tremendous legacy.
Toys R Us Brand and Reputation
Different brand analysts and brand specialists are noting that the famous toy maker and its brand will continue to live on. On the other hand, the brand will stay but the brick and mortar store may come to an actual end.
The company’s massive legacy also brings a following of loyal customers, and this is what most investors are looking to get at. Toys R Us’ logo, jingle, and the massive customer list are really something to be marveled at.
Brand specialists are also pointing out that its value is still up for debate. Given its wild popularity, the company and its brand are looking to attract a massive number of investors and could go down as one of the most important deal today.
Toys R Us Shops
Toys R Us is currently housing massive number of brick and mortar stores on a total of 38 countries, from Australia to Zambia.
On a separate note, the company is looking to close its Lake Charles store. This exact store has been operating for a whopping 22 years and has been recently struck by overwhelming online sales and stores in the past years.
Following the shop shutdowns, the company is also looking to shut down a whopping 30,000 jobs at its 700 stores.
The company mentioned that all Toys R Us and Babies R Us stores in the United States are closing, this includes Lake Charles store. Further reports noted that its United Kingdom shops are going to be closed and several international locations are set to close as well.
Toys R Us has been a staple brand name in the American household and one of the go-to shopping stores for millions of shoppers. Sadly, the brick and mortar store has been overpowered by online giants such as Walmart and Amazon.
Furthermore, the New York Times has recently published their finding that the online toy sales increased by a whopping 55%. This whole new wave of online shopping has crippled Toys R Us and eventually its total bankruptcy.
BWorldFinance is your primary source of news in the financial market, technology, and more. Visit bworldfinance.com now and get the latest happenings in the market. Register an account now and begin your investing journey!
Categories: Consumer product