Toys "R" Us - Fast Facts
Photo: S3studio/Getty Images
Photo: S3studio/Getty Images

Toys R Us making comeback in time for the holidays

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Tru Kids Inc., which is run by several former Toys R Us executives, announced Monday that it is the new parent company of the famous children’s brands, among other brands, and will begin reopening stores this year.

“We have an incredible team focused on bringing Toys R Us and Babies R Us back in a completely new and reimagined way, so the U.S. doesn’t have to go through another holiday without these beloved brands,” Tru Kids Inc. President and CEO Richard Barry said in a press release.

Last year the iconic toy company closed its doors after declaring Chapter 11 bankruptcy in 2017 following declining sales and stiff competition from online giant Amazon.

Barry said Toys “R” Us still has tremendous brand power and that there’s still significant consumer demand for both store chains.

>> Related: Toys R Us will close its doors for good on Friday

“We have a once-in-a-lifetime opportunity to write the next chapter of Toys R Us by launching a newly imagined omni channel retail experience for our beloved brands here in the U.S. In addition, our strong global footprint is led by experienced and passionate operating teams that are 100% focused on growth,” Barry said.

Former Toys R Us executives will help run the rebooted children’s retail operations.

Hong Kong, Hong Kong - AUGUST 23: Shoppers walk towards to a Toys R US retail store at the Harbour City on August 23 2018 in Hong Kong.
Photo: S3studio/Getty Images