KB Toys aims to fill the void of Toys "R" Us

KB Toys aims to fill the void of Toys

Last week, Toys "R" Us announced it had begun the process of shuttering its 700-plus remaining U.S. stores, leaving a number of analysts and toymakers questioning the long-term fate of the industry.

Kassoff, like several other players, is watching the collapse of Toys R Us in the USA and seeing an opportunity worth potentially well over $1 billion. Interview requests with KB Toys were not returned.

Ellia Kassoff, the founder of Strategic Marks LLC, said the company has "spent the last six months working on a sustainable model to bring back KB Toys the right way", adding that KB Toys will have to successfully compete with both big-box stores and online retailers. Retail Group, and Party City Holdco Inc.

"After it became clear that we would not be able to secure a buyer for the business, one of the major initial tasks was to transfer all of the remaining stock to the stores".

More news: Toyota halts its self-driving auto testing in wake of Uber crash

"It is with great regret that we have made the hard decision to make 98 people redundant at the company's distribution centre in coventry", joint administrator Simon Thomas said.

Amazon isn't interested in maintaining the Toys "R" Us brand, the Bloomberg article states. With majority of their 3000+ stores located in malls, the teen jewelry company has been suffering from a decline in traffic in shopping malls. The company initially filed for bankruptcy last September, citing more than $5 billion in long-term debt.

Kassoff hopes this move will reverse the fortune of all toy retailers.

In fact, data from NPD shows that the global toy industry in 2017 was the largest it has ever been.

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