Toys R' Us and Babies R' Us close doors

Gladys Abbott
March 22, 2018

Toys "R" Us filed for bankruptcy past year, and it announced last week that it expects to close all of its 735 stores in the US.

Strategic Marks purchased KB Toys in 2017.

A Toys R Us distribution centre in the West Midlands is set to close, leading to the loss of nearly 100 jobs. "And we on objective left some big items on our registry in hopes of getting that money back and purchasing it", Young said.

As a post on LinkedIn by Strategic Marks founder Ellia Kassoff made clear, "We believe we will have the infrastructure in place and [hope to] save the toy industry".

Kassoff said he's been in contact with Hasbro Inc.

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After the holiday shopping season ends, Kassoff will decide which of the pop-up stores will become permanent, based on their performance and whether he can negotiate a lease. The teen jewelry and accessories giant Claire's is another retail giant that has succumbed to financial troubles, declaring bankruptcy and announcing the closure of over 90 stores around the country.

"We're talking to companies that know how to do it, they have a methodology, they're used to rolling out stuff real quickly", he said. The company filed for Chapter 11 bankruptcy and agreed to a restructuring plan to reduce its debt by $1.9 billion.

"We are grateful for the hard work of Toys R Us staff during this very difficult period".

On March 15, after failing to reorganize around its successful stores, the toy superstore said it had to liquidate. A representative of Babies R Us couldn't be reached about the timing of its inventory liquidation.

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