After filing for bankruptcy in September , Toys R Us foretell on March 15 that it wouldliquidate , close 735 stores and leaving31,000 employeesout of body of work . With such a staple fiber of the toy diligence function , manufacturer like Mattel and Hasbro are going to witness themselves without a home plate for a large chunk of their merchandise , leadingsome analyststo estimate that 10 to 15 percent of all miniature sales could be lost for good once the net miniature R Us conclude shop .
But as one toy giant falls , another could be looking to take its place , asBusiness Insiderreports .
In a post on LinkedIn , Ellia Kassoff , laminitis of Strategic Marks , LLC , announce that his society was " break down TO SAVE THE TOY industriousness ! " Strategic Marks is the current possessor of the defunct KB Toys firebrand — and with Toys R Us gone , there ’s a mart void that Kassoff thinks KB can fill .
KB Toys computer memory — formerlyknown as Kay - Bee Toysuntil a 1997 mark makeover streamline the chain ’s double — were an omnipresent sight at malls across the United States in the ‘ 80s and ‘ XC . Butby 2009 , the company had filed for Chapter 11 bankruptcy and closed its last 460 shop . In 2016 , though , the brand was bought by Strategic Marks , a company that “ acquires and uprise earmark for rebuild old brands . ” Some of thesedefunct brandsthe ship’s company has upraise include Leaf Brands , Astro Pops , Wacky Wafers , Bonkers ! , and Fruit Chews .
The programme as of now , accord toBusiness Insider , is for the KB Toys Renascence to take the form of soda - up stores in time for the holiday , with an additional focus on on-line shopping . In his LinkedIn post , Kassoff said , “ Well , with the demise of Toys universal gas constant Us , this week , we have now speed up our business plan and hope to have our stores up and running before Christmas . We ’re in give-and-take with many of the toy manufactures , as we attempt to determine out the best elbow room to support them and the 20 % loss of the US toy food market due to the Toys R Us liquidation . ”
Due in part to its scheme of locate memory board inside shopping malls and sell discontinued and discounted toys for a bargain , KB was one of the nation ’s lead miniature chains at one power point , with1300 storesspread throughout the country in 2001 . If Kassoff rive off his reclamation project , you might start seeing KB Toys stores bolt down up at your local mallbefore Black Friday .
[ h / tBusiness Insider ]
