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It was announced that pivate equity firms Bain and KKR who owned Toys R’ Us before closing all the US based stores here in the United States has pledged to set up a $10 million fund for former employees who were laid off. Only those who worked at Toys R’ Us for at least 1 year with an annual income of no more that $110,000 or less than $5,000 will be eligible for the plan.Source: CNBC
According to a report by the WSJ it looks like Toys R' Us' controlling lenders have had a change of heart and decided to revive the Toys ‘R’ Us and Babies ‘R’ Us names in the United States with retail stores. Apparently at the last minute someone decided the brand was just to valuable to kill off. There aren't a lot of specific details at this time, but if you thought you were going to have to grow up after all 735 stores in the US closed a few months ago, I guess you were wrong. Stay-tuned for more details on this as they become available.