Toys "R" Us Has a New Owner

By Sheridan Fifer

Tru Kids purchased Toys "R" Us in a liquidation sale in 2018, vowing to breathe new life into the bankrupt toy retailer. Now, WHP Global, a brand management company with a history of acquiring and reviving struggling brands, has bought a controlling interest in Tru Kids for an undisclosed sum. As a result, WHP will control and direct the next attempt at a comeback for Toys "R" Us.

Under Tru Kids' leadership, Toys "R" Us opened two brick-and-mortar stores that functioned as showrooms for toy makers' products. These both closed permanently in January. While the toy retailer is still alive and well, especially outside the U.S., each setback gives rivals such as Target, Walmart, and Amazon more opportunity to take market share that once belonged to Toys "R" Us. 

Toys "R" Us' website remains operational and more than 700 stores outside of the United States are still open. WHP claims that the brand still generates more than $2 billion in global retail sales.

Read the full story at CNN Business.