Toys “R” Us, which closed the last batch of its U.S. stores just over a week ago, has left behind not only nostalgia but also hundreds of empty stores across the country. Still, if you thought this paints a gloomy picture of brick-and-mortar retail, you’d be mistaken.
As much as consumers mourn the death of Toys “R” Us, their sad and sweet memories may soon be replaced by curiosity and even excitement over who’s moving into the bankrupt retailer’s old homes. Arts and crafts retailer Hobby Lobby, off-price chains Burlington Stores and T.J. Maxx, and Marshalls parent TJX are just some of the new tenants, The Wall Street Journal recently reported, citing Conor Flynn, CEO of Kimco Realty KIM -0.77%
Corporation, which owns some of the vacated Toys “R” Us properties and is a major open-air shopping center developer. Other retailers including Big Lots and Scandinavian Designs have also bid on some of Toys “R” Us’s locations in bankruptcy court, The WSJ reported.
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