Toys ‘R’ Us is set for a return to the Great British High Street ‘within months’ after bosses signed a deal to bring the brand back to the UK.
The iconic retail chain went bust in 2018 and was forced to close hundreds of its stores across the UK after failing to attract new investment.
But the store’s owners, Toys ‘R’ Us ANZ Limited, which has more than 900 physical stores in Australia and New Zealand, confirmed the brand would be returning to the UK in 2022.
The firm has signed a new ‘long-term’ licensing agreement which allows it to offer its goods to UK-based customers both online and in-store, and high-profile buyers have been recruited.
The news means Toys ‘R’ Us could start selling toys and games again to British families in physical shops within months.
The Toys ‘R’ Us website has been revamped in recent months, and recruitment has ‘ramped up’, according to the Mirror.
Experienced buyers have been brought on board and include James Ford, who helped Debenhams’ toy arm, Katie Ellis, former Mothercare and Toys ‘R’ Us buyer and former Argos expert Lukasz Jasinski.
Toys ‘R’ Us Australia chief executive Louis Mittoni, who is leading the UK launch, said: ‘I’m very excited to welcome over 100 years of retailing experience in our new team, who will lead the relaunch our iconic brand back into the UK market in the next few months.
‘We have an amazing toy and baby buying team, which I believe is the best in the country.
‘With this team now in place, we’re hitting the ground running and have been reaching out to the supply base to see with whom we can align on this amazing journey.’
oys ‘R’ Us first launched in the UK in 1985 and branded itself as the ‘world’s first toy supermarket’.
But the firm’s UK arm was plunged into crisis in 2017 after its American parent company declared bankruptcy in the US and Canada.
Despite the prospect of rescue talks, the chain fell into administration in 2018, making thousands of employees redundant after closing all 100 of its UK stores.
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Toys’ R’ Us set to make a comeback to Britain’s High Streets ‘within months’