Strategic Marks purchased the "Great American Toy Store" (KB brand) from Bain Capital in 2016.
Ellia Kassoff, founder of Strategic Marks LLC announced on Linkedin that it had planned to reopen KB Toys but, with the closing of Toys R Us it has accelerated its business plan and hopes to have its stores up and running before Christmas.
The Topeka Toys "R" Us is expected to start slashing prices soon as it prepares to close its doors for good. My wife and I still own the Monopoly set we bought-at Toys R US-when we were in college. Efforts to merge up to 200 top-performing US stores with its Canadian operations are also underway.
Via USA Today, the remaining Toys "R" Us stores will kick off the "going out of business sale" on Thursday, March 22.
But, as Jeffries analysts led by Daniel Binder pointed out in a note last week, gains in sales to other players could take longer than some expect. I wanted to go in and have someone I could speak to and touch products and compare, said Heather Young, a mother of a 6-week-old child. Within the next week or two, the company will begin selling off their inventories at a discount.
That could pose headwinds, too, for the revival of KB Toys, once the second-to-last remaining national chain of toy stores. The teen jewelry and accessories giant Claire's is another retail giant that has succumbed to financial troubles, declaring bankruptcy and announcing the closure of over 90 stores around the country.