Write an article on TOYS”R”US for a business magazine.

Toys "R" Us is a toy, clothing, video game, and baby product retailer. It was
founded in April 1948, with its headquarters located in Wayne, New Jersey, in the
New York metropolitan area. Founded by Charles Lazarus in its modern iteration
in June 1957, Toys "R" US traced its origins to Lazarus's children's furniture store,
which he started in 1948. He added toys to his offering, and eventually shifted his
focus. The company had been in the toy business for more than 65 years and
operated around 800 stores in the United States and around 800 outside the US,
although these numbers have steadily decreased with time. The company filed for
Chapter 11 bankruptcy protection on September 18, 2017, and its British
operations entered administration in February 2018. In March 2018, the company
announced that it would close all of its U.S. and British stores. The British
locations closed in April and the U.S. locations in June. The Australian wing of Toys
"R" Us entered voluntary administration on May 22 and closed all of its stores on
August 5, 2018. Operations in other international markets such as Asia and Africa
were less affected, but chains in Canada, parts of Europe and Asia were eventually
sold to third-parties.

The company continues to operate as the licensor of the chain's international

operations, but its lenders announced in October 2018 that it planned to re-
launch the U.S. Toys "R" Us retail business in the future, citing the value of its
brand. The lenders also partnered with Kroger to add "Geoffrey's Toy Box"
(named after the chain's mascot) pop-up departments to selected locations in
order to give Toys "R" Us a presence during the holiday shopping season. The first
Babies "R" US store opened in April 1996 in Westbury, New York. In February
1997, Toys "R" Us acquired Duncan-based Baby Superstore, Inc., a 78-store chain,
for $376 million. The locations were converted into Babies "R" Us. The store
operates as a specialty baby products retailer and has grown to about 260 stores
in the United States before their closing in the late 2010s. The stores offer an
assortment of products for newborns, infants, and toddlers. The company also
maintains a registry and offers pre- and post-natal classes and events. The stores
are often co-branded with Toys "R" US. The chain continues to operate outside of
the United States.