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

Toys R Us Riverside Retail Park Nottingham

Toys-R-Us executives placed the blame on their on several factors, one being the fact that their competitors made moves to undercut their prices.

Meanwhile, toy makers are fretting, and retailers and rivals are rubbing their hands. FAO Schwarz, once a unit of Toys R Us, is plotting a reentry into physical retail after exiting a couple years ago with the closure of its (very expensive) Manhattan flagship. Before the announcement of liquidating all USA stores, Toys-R-Us CEO David Brandon mapped out a plan of closing all but the 200 best stores around the country, in an attempt to settle some of the crippling debt the company had undertaken.

Operating under the assumption that the majority of parents will continue to buy toys for birthdays and holidays, Lennett estimates that the organic decline for the total United States toy industry will be in the low single digits.

Claire's is another retail giant to fall victim to lagging sales and mounting debt.

The company had filed for bankruptcy last fall.

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Strategic Marks LLC which acquired the KB Toys name plans to relaunch the business. "I have three children and definitely have done some shopping at Toys R' Us and Babies R Us", said Laurie Skiles, manager at The Nurturing Nest.

Published reports say liquidation sales around the country will start as soon as Thursday, and will continue until all the merchandise is sold.

"We're talking to companies that know how to do it, they have a methodology, they're used to rolling out stuff real quickly", he said.

"If you have a gift card, use the gift card now", Fleming said. All sales will be final on purchases during the liquidation process.

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