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KB Toys to return?

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Gym Group boss John Treharne

Amazon would not acquire the stores to maintain the Toys "R" Us brand, according to the report.

So take heart, consumers who are mourning Toys "R" Us' loss.

Toys "R" Us, which filed for bankruptcy previous year, announced last week that it expects to close all of its 735 stores in the US. As an ironic historical footnote, at the time of its first bankruptcy, the retailer was owned by Bain Capital, one of Toys R Us' private equity owners. The company is trying to salvage 200 of its top-performing locations, as part of a deal to sell off its Canadian unit in bankruptcy, but there is no guarantee a deal will come.

What? You thought KB Toys was gone when it went out of business and disappeared about a decade ago?

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Claire's is another retail giant to fall victim to lagging sales and mounting debt. Strategic Marks LLC, the company that owns intellectual property rights to the KB Toys brand, said they are exploring the possibility of re-opening the chain. The company said, "This decline may be attributable to several factors, including competition from big-box retailers, large tenant closures, and the increased popularity of online shopping". Within the next week or two, the company will begin selling off their inventories at a discount.

The sales start Thursday, March 22 and will end in June.

Simon Thomas, joint administrator and partner at Moorfields, said: "It is with great regret that we have made the hard decision to make 98 people redundant at the company's distribution centre in Coventry".

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