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Toys R Us to reportedly open new stores later this year

Key Points
  • According the Bloomberg, the retailer will come back with roughly six smaller stores and an e-commerce site this year.
  • The company liquidated its assets last year after entering bankruptcy in September 2017. The company had about 800 locations when it was liquidated.
A Toys R Us Inc. retail store in Frederick, Maryland, U.S., on Monday, April 16, 2018.
Andrew Harrer | Bloomberg | Getty Images

Defunct children's retail chain Toys R Us will open new stores later this year, according to Bloomberg.

The company liquidated its assets last year after entering bankruptcy in September 2017. The company had about 800 locations when it was liquidated. According the Bloomberg, the retailer will come back with roughly six smaller stores and an e-commerce site this year.

The new stores will be about one-third the size of the the chain's previous storefronts and offer more experiential shopping, Bloomberg reported.

Richard Barry, formerly the chief merchandising officer at Toys R Us, became the president of a company called Tru Kids that was created to manage the brand and intellectual property of the former chain. CNBC reported in February that Barry and Tru Kids were looking to revive Toys R Us stores.

Requests for comment from Tru Kids were not immediately returned.

Read the full Bloomberg story here.

WATCH: The rise and fall of Toys R Us

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The rise and fall of Toys R Us
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Key Points
  • People thought Hubert Joly was "crazy or suicidal" when he became CEO of Best Buy.  
  • Speaking at CNBC’s Evolve Conference in New York, Joly discussed the steps needed to turn around the business. 
  • Joly focused on revitalizing what he viewed as the company's assets: its employees, stores and products.
  • Best Buy is focused on not just selling technology, but enriching lives through technology.