Toys R Us returning to the UK four years after it went bust
After four years away from these shores, nostalgic toy megastore Toys R Us is set to make a return to the UK.
The chain went bust in 2018 after struggling to get people through the doors in an age of online retail. This lead to more than 100 Toys R Us outlets closing across the UK that year.
However in a surprise move, the parent firm of the Toys R Us and Babies R Us brands - WHP Global - has announced it has signed a long-term exclusive license agreement to relaunch physical stores in the UK from next year.
Stores had stayed open in Canada and Australia and have been doing well. This has encouraged bosses that there is still hope for physical stores here in the UK.
Chairman and CEO of WHP Global and Toys R Us, Yehuda Shmidman, said in a statement: "We selected Toys R Us ANZ as our partner to expand into the United Kingdom because of their proven success in launching with us in Australia under the leadership of their CEO, Dr Louis Mittoni.
"Toys R Us today is a vibrant business with over 900 stores and e-commerce sites across 25 plus countries generating over $2billion a year in sales and growing, especially with the new launches underway for both the US and UK markets."
Head of Toys R Us ANZ, Louis Mittoni, added: "Since Toys R Us’ return to Australia in June 2019, we have scaled quickly as customers returned to the much-loved brand and our e-commerce model has proven its success.
"My team and I are looking forward to developing technical and commercial relationships with UK-based vendors and partners and to engage with the many loyal Toys R Us former customers and fans in the UK."
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