Not everyone is happy about the company’s planned revival.
The company has cancelled the bankruptcy auction to sell the brand’s name and intellectual property and announced that it will instead revive the chain. The group has launched Geoffrey’s Toy Box, a wholesale venture introduced to the industry during the Dallas toy show. The company registered as an exhibitor and had a booth at the show, and a costumed Geoffrey mascot wearing a cape reading: “Back from Vacation” roamed the aisles to highlight the new venture.
Following a tweet announcing the news, which invited followers to share their favourite memories of Toys R Us, the company has received a barrage of negative comments from former employees.
The tweet also linked to a statement from a group of Toys R Us lenders who intend to buy back the company’s assets and “bring back these iconic brands in a new and re-imagined way”.
One follower posted: “Here’s my favorite memory: When myself and 33,000 people lost their jobs and your evil creditors took over the company and took all the money and liquidated us and took my severance.”
Another added: “My favorite memory was when you fired thousands of people with no severance in a deceptive ploy to give golden parachutes to investors and incompetent businessmen.”
Some were more succinct: “Geoffrey I got three words for you: Class. Action. Lawsuit.”
The Toys R Us failure saw the closure of 100 stores in the UK and 800 stores in the US, putting thousands of people out of a job. Having refused to pay staff the severance a Washington Post report said it once promised, the owners should perhaps not be surprised by the lack of enthusiasm and support from former loyal members of staff.