Toys 'R' Us is closing all of its stores in the United States, and a defunct retailer is hoping to rise up from its ashes.
KB Toys ceased operations in 2009, but Strategic Marks purchased the brand in 2016 from Bain Capital — the same company that took Toys 'R' Us private in 2006, saddling it with debt. Strategic Marks President Ellia Kassoff told CNN Money the plan is to open 1,000 pop-up locations on Black Friday, and where the pop-ups do well, they'll make permanent KB Toys stores.
Kassoff said he's been in touch with Hasbro, Mattel, and dozens of other smaller toy suppliers, and the "assumption is that there's about half a billion dollars worth of toys that have been produced for Toys 'R' Us with no place to go. That's a big, big void that we're hoping to fill up."
Subscribe to The Week
Escape your echo chamber. Get the facts behind the news, plus analysis from multiple perspectives.
Sign up for The Week's Free Newsletters
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
-
New York court tosses Trump's $500M fraud fineSpeed Read A divided appeals court threw out a hefty penalty against President Trump for fraudulently inflating his wealth
-
Trump said to seek government stake in IntelSpeed Read The president and Intel CEO Lip-Bu Tan reportedly discussed the proposal at a recent meeting
-
US to take 15% cut of AI chip sales to ChinaSpeed Read Nvidia and AMD will pay the Trump administration 15% of their revenue from selling artificial intelligence chips to China
-
NFL gets ESPN stake in deal with DisneySpeed Read The deal gives the NFL a 10% stake in Disney's ESPN sports empire and gives ESPN ownership of NFL Network
-
Samsung to make Tesla chips in $16.5B dealSpeed Read Tesla has signed a deal to get its next-generation chips from Samsung
-
FCC greenlights $8B Paramount-Skydance mergerSpeed Read The Federal Communications Commission will allow Paramount to merge with the Hollywood studio Skydance
-
Tesla reports plummeting profitsSpeed Read The company may soon face more problems with the expiration of federal electric vehicle tax credits
-
Dollar faces historic slump as stocks hit new highSpeed Read While stocks have recovered post-Trump tariffs, the dollar has weakened more than 10% this year
