The Toys ‘R’ Us company has been sold once again, this time to WHP Global, a New York-based brand management company, who announced Monday (3/15), “We are thrilled to be taking the reins of the world’s leading toy brand at a time when the category is up 16% and consumer demand for toys is at an all time high.”
CNN Business reports that plans for the brand weren’t immediately revealed. However, the press statement said the sale was a “natural fit” for WHP because it can use its “global network and digital platform to help grow Toys ‘R’ Us and Babies ‘R’ Us around the world.”
Toys ‘R’ Us closed its doors nationwide in January of 2020 blaming the pandemic for their troubles.
However, 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. WHP targets struggling retail brands and tries to revive them.