Toys 'R' Us CEO sees future with smaller shops
The chain will integrate its online and in-store shopping experiences; adding better technology, customer service
New York
TOYS "R" Us Inc will shrink its stores and revamp its bigger outlets through its bankruptcy process, which may end with the company's return to the public markets, chief executive David Brandon said on Wednesday.
Toys "R" Us, the largest speciality US toy seller, filed for bankruptcy on Monday after some of its vendors stopped shipping to them. They were concerned that the company would not pay them because of its financial distress, but those worries were put to rest once Toys "R" Us secured bankruptcy financing on Tuesday.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Consumer & Healthcare
IndoAgri appoints former EDB chairman Philip Yeo as chairman and lead independent director
GSK profit drops 23% in Q1 on higher costs
Starbucks points to weaker consumer as profit falls
Restaurant Brands tops estimates as Burger King overhaul pays off
Walmart to shut all health centers in US over lack of profitability
Coca-Cola raises annual sales forecast on global demand, higher prices