Author: Maddie Michalik

Basic Fun! Remains Confident In The Toy Industry Despite Toys “R” Us Bankruptcy

Basic Fun! is planning for “life in the US without Toys “R” Us,” the company said in a press release. The company, which always considered Toys “R” Us to be its “product showroom,” will now have to chart a path in a world without a major exclusive big box toy retailer. “We’ve lived through losing K-B Toys years ago, and we’ll find a way to go on in the current retail environment,” said Jay Foreman, CEO of Basic Fun! and long-time toy industry veteran. “We are hoping against hope that someone will come in to rescue the brand and...

Read More

Steiff Partners with Tiffany for Love Teddy Bear

Steiff and Tiffany collaborated to create a 10.5-inch teddy bear to be sold exclusively at Tiffany & Co. Steiff’s Return to Tiffany Love Teddy Bear is a caramel-colored mohair teddy bear complete with Tiffany Blue felt paws and a Return to Tiffany Love tag in sterling silver. The teddy bear will be presented in Tiffany’s iconic Blue Box. All Steiff collector’s pieces are handcrafted in Germany from mohair and alpaca, and are known for the ‘Knopf im Ohr,’ or button in...

Read More

ASTRA Reassures Consumers that Independent Toy Stores Are an Option for Buying Toys

Kimberly Mosley, president of the American Specialty Retailing Association (ASTRA) issued a statement in response to the news that Toys “R” Us is closing down all of its U.S. locations: “The closing of Toys “R” Us stores nationwide is another example of the ongoing change and evolution of the $20.7 billion toy industry. One thing that remains constant is the need for children to have access to fun toys and play experiences that support healthy child development. Parents and grandparents and other toy buyers looking for alternatives to Toys “R” Us can find top quality toys and customer service...

Read More

Toys “R” Us to Liquidate Inventory and Shut Down U.S. Stores

Toys “R” Us is officially going out of business in the U.S. The retailer filed court documents early Thursday seeking bankruptcy court approval to liquidate its inventory, start closing nearly 800 U.S. locations, and selling its equity interest in its Canadian operations. The company’s lenders “have determined that the best way to maximize their recoveries is to liquidate the existing inventory in all [of Toys “R” Us’] 735 remaining U.S. stores and begin an orderly wind-down of the U.S. operations.” “I am very disappointed with the result, but we no longer have the financial support to continue the Company’s U.S....

Read More

Toys “R” Us Will Sell or Close All U.S. Stores, CEO Says

Toys “R” Us told employees today that it will sell or close all of its U.S. stores, according to The Wall Street Journal, and plans to file liquidation papers tonight in advance of tomorrow’s bankruptcy court hearing. The closures will affect 33,000 American jobs. The news came to employees from Chief Executive Dave Brandon on a conference call. Brandon also told staffers the company was likely to liquidate in France, Spain, Poland, and Australia. It plans to sell its operations in Canada, Central Europe, and Asia. The company is also trying to package its Canadian business with 200 U.S. stores and...

Read More

Latest Issue

Subscribe to Toy Report!