Wednesday, 19 September, 2018

Anonymous person buys $1M worth of remaining toys at Toys 'R' Us

A Toys 'R' Us Store As Company Gets 11th Hour Bid From Little Tikes's Larian Bloomberg Getty Images
Kenneth Drake | 30 June, 2018, 15:51

As the store wound down, a photo made the rounds of the store's mascot Geoffrey the Giraffe wearing a hat and sunglasses with a suitcase, apparently on his way to enjoy a nice retirement or at least a vacation.

"Thanks to each of you who shared your fantastic journey to (and through) parenthood with us, and to every grandparent, aunt, uncle, brother and sister who's built a couch-cushion rocket ship, made up a hero adventure, or invented something goeey".

Many kids grew up watching Geoffrey on TV, singing the jingle 'I don't want to grow up, I'm a Toys R Us kid'. But it all comes to an end after busy parents found shopping online more convenient. Storch came to the company when it was in the midst of a debt-laden privatization deal in 2005, and left it in 2013, with $1 billion in revenue (pre-tax).

The U.S. company first filed for bankruptcy in September 2017 and announced liquidation sales shortly after.


Be sure to read how we think Toys R Us has helped define our childhoods throughout its long run.

Party City said on Monday it will open about 50 pop-up toy stores this year along with its Halloween City pop-up shops in locations that present "attractive leasing opportunities", CEO James Harrison said.

Will the Toys R Us name and mascot disappear forever? In 2017, Toys "R" Us filed for bankruptcy and in March 2018 the company announced it was going out of business and closing all USA stores. The photo was taken by Rene Johnpiere, who appears to work at a Toys "R" Us.

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