Remember KB Toys? It's making a comeback
- Author: Darren Santiago Mar 22, 2018,
Mar 22, 2018, 0:56
Ellia Kassoff, founder of Strategic Marks and Leaf Brands, recently said on LinkedIn that his company has been working for the past six months to iron out a "sustainable model" for the toy seller, which liquidate about a decade ago after its second bankruptcy. There are no plans to restock the stores once the company's distribution centers shut down, which is scheduled to occur well before the rest of the franchise closes its doors.
Invest in the consumer experience-As Greg Portell, lead partner at retail consultant A.T. Kearney said of Toys R Us, "If you're going to have that breadth of inventory, you need someone in the store to help you experience it".
Target, Walmart, Amazon and others are also poised to take on new toy sales as Toys R Us closes stores. "We believe we will have the infrastructure in-place and [hopefully] save the toy industry". "I have three children and definitely have done some shopping at Toys R' Us and Babies R Us", said Laurie Skiles, manager at The Nurturing Nest.
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Toys R Us last week announced plans to close all 800 of its stores in the United States after filing for Chapter 11 bankruptcy last fall.
Remember KB Toys? The company went out of business in 2008, closing up all of its stores across the country. At that point, the stores will close for good, though the company is working on a package deal to sell its Canadian operations that could keep up to 200 profitable U.S. stores open. (MAT) and up to 200 smaller toy suppliers who are looking for new brick and mortar retailers.