Business as usual for Toys R Us in PH
In this Friday, Nov. 25, 2016, file photo, shoppers shop in a Toys R Us store on Black Friday in Miami. Toys R Us, the pioneering big box toy retailer, announced late Monday, Sept. 18, 2017 it has filed for Chapter 11 bankruptcy protection while continuing with normal business operations. AP FILE
The American mother ship may have declared bankruptcy but in the Philippines, it will still be business as usual for all Toys “R” Us stores especially during the run-up to the yuletide season.
All stores are open for business and will continue to offer a wide assortment of toys and merchandise for kids, said Gokongwei-led retailer Robinsons Retail Holdings Inc. (RRHI), whose wholly-owned subsidiary Robinsons Toys Inc. manages and operates the chain of Toys “R” Us stores in the Philippines.
Toys “R” Us Philippines is a sub-licensee of Toys “ R” Us (Asia), which is not part of the court-supervised financial restructuring in the US. Similarly, Toys “R” Us Philippines is not part of Toys “R” Us Inc.’s voluntary filing of Chapter 11 or financial restructuring to enable the company to improve its resources and strengthen its competitive position.
“Toys “R” Us (Asia) is open for business and continuing to serve our customers as we always do. We are a financially robust and self-funding retail operation, which continues to significantly grow and invest in this region,” said Toys “R” Us (Asia) president, Andre Javes.
In the Philippines, the RRHI unit operates 34 stand-alone stores and 44 Toys “R” Us Toybox outlets inside Robinsons Department Store branches.
RRHI issued the statement following news that Toys “R” Us Inc, the largest US toy store chain, had filed for bankruptcy protection.
Toys “R” Us (Asia) is a joint venture between Toys “R” Us Inc. and Fung Retailing Ltd, part of Hong Kong’s privately held Fung Group. It operates as a separate legal entity and is financially independent from all other Toys “R” Us operating companies around the world.
Javes said Toys “R” Us (Asia) had been opening new stores in the region. Toys “R” Us (Asia) and its subsidiaries operate 226 stores in Greater China and Southeast Asia, including Brunei, China, Hong Kong, Malaysia, Singapore, Taiwan and Thailand, and licenses an additional 35 stores in the Philippines and Macau.
In March 2017, Toys “R” Us Japan was integrated into Toys “R” Us (Asia), adding 161 stores to the pan-Asia toy store chain.
“As the leading toy, baby and educational products retailer for children in Asia, we are very focused on delivering our full-year results. Our teams are committed to excite our customers with unique and differentiated ranges, both online and a thrilling hands-on experience in store,” said Javes.
Celina Chua, general manager of Toys “R” Us Philippines said: “At Toys “R” Us Philippines, business will operate as usual and we will continue to provide great service and a wide assortment of toys especially for this holiday season.”
