Toys R Us South Africa is safe

TOYS R Us in South Africa‚ Namibia and Zambia are not affected by the toy chain liquidating its stores in the United States.

“Although these challenges will have ramifications on the global toy landscape‚ it must be clear that Toys R Us and Babies R Us South Africa are a privately owned South African enterprise‚ which merely pays a royalty to utilise the brand names and operates completely independently from its global counterparts‚” local marketing manager Nicole Annells said yesterday.

Annells added their growth in revenue was “solid”. “Toys R Us and Babies R Us South Africa have experienced phenomenal growth‚ having opened seven new stores in 2017.”

Toys R Us announced late on Wednesday it is liquidating all their stores in the United States.

“This is a profoundly sad day for us as well as the millions of kids and families who we have served for the past 70 years‚” chief executive Dave Brandon said.

The company did not indicate how many jobs would be lost‚ but about 33 000 are at stake. The debtplagued chain filed for bankruptcy protection in September last year.

The company statement said it is exploring strategies for keeping the brand alive‚ including the sale of 200 US stores that could be packaged with its Canadian operations.

The shop started in 1948 and has 881 stores in the United States.