Now, the toy store's parent company, WHP Global, has a new vision to bring the toy store back to customers who never wanted to stop being a Toys “R” Us Kid. Up to 24 new Toys “R” Us flagship stores will open around the country beginning in 2024, CNN Business reports.

One flagship store already exists: Toys “R” Us marked its US return with a 20,000 sq ft. flagship store that opened at the New Jersey American Dream Mall in 2022. In 2021, WHP Global acquired Toys “R” Us from Tru Kids Inc., which bought the failed brand in a 2018 liquidation sale.

Why Did Toys R Us Close Down? Toys R Us closed down because it had billions of dollars in debt and could no longer invest the money required to keep up with competition. This ultimately led to the company filing for bankruptcy and selling or closing its last remaining stores.

By the late 1950s, U.S. toy sales had surpassed 1 billion dollars. So, when Lazarus opened Toys R Us, the toy emporium was a hit. It was one of a kind. Because virtually all toy stores at the time were small-scale, mom-and-pop operations, with many fewer toys available, Toys R Us had no comparable competitors.

2021 The company filed for bankruptcy in 2017 and 2018, closing all of its stores in the US, UK, and Australia, with the last US stores closing in 2021. Operations in other international markets such as Asia and Africa were less affected, but chains in Canada, parts of Europe and Asia were eventually sold to third parties.

Toys “R” Us does exist already. They had an online return in 2021 after being acquired by WHP Global and now work with Macy's to sell toys online under the Toys “R” Us name.

2021 The company filed for bankruptcy in 2017 and 2018, closing all of its stores in the US, UK, and Australia, with the last US stores closing in 2021. Operations in other international markets such as Asia and Africa were less affected, but chains in Canada, parts of Europe and Asia were eventually sold to third parties.

Vornado Realty TrustTru Kids Toys“R”Us/Parent organizations

In conclusion, Toys R Us failed because it didn't change. Instead, they competed on price alone, relied on Amazon, could not embrace the community, had poor customer experience and focused on the short-term.

The company started as a baby goods and furniture store called Children's Bargain Town in Washington, DC. In the subsequent years, Lazarus began expanding into toys and the company officially adopted the name Toys R Us in 1957.

Toys "R" Us

WHP Global acquired Toys R Us from Tru Kids Inc. in 2021. Tru Kids bought the brand in a 2018 liquidation sale.