An iconic toy brand is being kept alive for now.Toys R Us has officially been resurrected as a new company, called Tru Kids Brands, that’s become the parent of Toys R Us, Babies R Us, Geoffrey and other brands, according to a business announcement.“We have a once-in-a-lifetime opportunity to write the next chapter of Toys R Us,” Tru Kids Brands CEO Richard Barry said in a statement.The new company is headquartered in New Jersey with several Toys R Us executives returning.It will re-emerge in a “new and reimagined way” so the U.S. can look forward to the brands for future holidays. The company did not immediately respond to a request for details.The move comes as Ollie’s Bargain Outlet has bought 12 former Toys R Us sites and is leasing another six, CNN reported in January.When Toys R Us went under last year, Ollie's put out an ad in the newspaper that it wanted to buy up extra toys from suppliers. It ended up grabbing $200 million worth of toys and sold them at up to 75 percent off the "fancy stores'" prices.Abroad, the new company plans to open 70 stores this year in Asia, India and Europe and develop new e-commerce platforms in several key markets.Last March, the iconic toy retailer announced it would shut or sell all of its almost 800 stores in the U.S. and was expected to close hundreds of stores worldwide, including all of its stores in the United Kingdom, CNN reported.In September 2017, Toys R Us filed for bankruptcy, hoping to shed debt and reinvest in its stores.CNN contributed to this report.

An iconic toy brand is being kept alive for now.



Toys R Us has officially been resurrected as a new company, called Tru Kids Brands, that’s become the parent of Toys R Us, Babies R Us, Geoffrey and other brands, according to a business announcement.


“We have a once-in-a-lifetime opportunity to write the next chapter of Toys R Us,” Tru Kids Brands CEO Richard Barry said in a statement.

The new company is headquartered in New Jersey with several Toys R Us executives returning.

It will re-emerge in a “new and reimagined way” so the U.S. can look forward to the brands for future holidays. The company did not immediately respond to a request for details.

The move comes as Ollie’s Bargain Outlet has bought 12 former Toys R Us sites and is leasing another six, CNN reported in January.

When Toys R Us went under last year, Ollie's put out an ad in the newspaper that it wanted to buy up extra toys from suppliers. It ended up grabbing $200 million worth of toys and sold them at up to 75 percent off the "fancy stores'" prices.

Abroad, the new company plans to open 70 stores this year in Asia, India and Europe and develop new e-commerce platforms in several key markets.

Last March, the iconic toy retailer announced it would shut or sell all of its almost 800 stores in the U.S. and was expected to close hundreds of stores worldwide, including all of its stores in the United Kingdom, CNN reported.

In September 2017, Toys R Us filed for bankruptcy, hoping to shed debt and reinvest in its stores.

CNN contributed to this report.