Iconic store announces exciting return to Australia five years after forced closure
- Toys R US announces physical store in Australia
- The retailer closed 44 stores in Australia in 2018
- As of 2019 they operate online from Victoria
Children’s retail giant Toys R Us has announced a grand return to Australia – five years after it went bankrupt, leaving 700 people out of work.
The retailer, which once had 44 stores nationwide, is set to open a megastore in Clayton, Melbourne’s south-east, as announced.
Toys R Us has been operating out of the Victorian town since it relaunched in 2019 as an online store after being bought by Hobby Warehouse.
In 2021, the once popular destination shopping retailer was purchased by a brand called ‘Funtastic’ which changed its name to Toy R Us shortly after the acquisition.
Toys R Us has announced plans to open a physical store in Australia five years after 44 closed
The 3,000-square-foot warehouse-style store will include Babies R Us, according to the retailer’s announcement.
On Monday, the company announced it would raise $8 million in capital to get the new warehouse off the ground.
The “minimum subscription” accepted by the retailer, for anyone interested in the project, is $5 million, according to the release.
A cost breakdown shows that the store will only cost $3 million to run, with the rest of the money going towards other projects, such as a major overhaul of the company’s computer systems.
The planned warehouse-style store will be “experiential” and feature Babies R Us merchandise, according to the release
The shopping area would include a café, children’s activities and a robot-controlled warehouse that can be observed by the public.
The company is also raising $3 million in capital to open High Street stores in the UK, according to announcements.
The ASX rights offer is open until July 6.