Toys "R" Us Australia

Last updated

Toys"R"Us ANZ Limited
Toys R Us Australia
FormerlyFuntastic Limited (-2021, current company)
Company type Public
ASX:  TOY
Industry E-commerce, toys, baby products, hobbies, art supplies
FateIn voluntary administration
Subsidiaries
  • Toys "R" Us / Babies "R" Us (Toys R Us Licensee Pty Ltd)
  • Hobby Warehouse (Pty Ltd)
  • RIOT Arts & Craft (Riot Creativity Pty Ltd)
Website

Toys "R" Us Australia was founded in 1993 and went into administration in 2018 following its parent's bankruptcy, before closing down after failing to find a buyer. [1] Hobby Warehouse reopened it as an online store at present after acquiring the franchise from it in 2019. [2] Toys"R"Us ANZ (then called Funtastic Limited) acquired it in 2021. It too went into administration in 2025 and is again reportedly finding a buyer.

Contents

History

Toys "R" Us in Chadstone Shopping Centre, Melbourne, Australia, in 2017 ToysRus in Chadstone Shopping Centre 2017.JPG
Toys "R" Us in Chadstone Shopping Centre, Melbourne, Australia, in 2017

Toys "R" Us came to Australia in March 1993. The company, hoping to destroy the toy sector, reportedly almost never made a profit, compounded by native, more ever-present competitors with more general merchandise, such as Kmart Australia, as well as a lack of overall spending on toys in the country compared to other countries it previously entered. It did win competition with the short-lived clone World 4 Kids of Kmart's owner Coles Myer who was experimenting with a few chains at the time. [3] [4]

The Australian wing of Toys "R" Us finally entered voluntary administration on May 22, 2018, following its parent's bankruptcy, appointing administrators from McGrathNicol. [5] [2] On June 20, it was announced that all of their Australian stores would be closing as well. [6] [7] The closure of all 44 stores was concluded on August 5, 2018. [8]

On June 5, 2019, Toys "R" Us returned in Australia when Tru Kids partnered with Hobby Warehouse to relaunch the website for the chain. [9] In 2023, they announced that Toys "R" Us would return to Australia. [10] [ needs update ] Hobby Warehouse and Toys "R" Us were acquired by Funtastic in 2021, who changed their name to Toys"R"Us ANZ.

In 2024 Toys "R" Us acquired Riot Arts & Craft. [11] Riot previously made headlines by suddenly going into creditors voluntary liquidation in late 2020 during the COVID-19 pandemic, immediately closing all its 56 bricks-and-mortar stores and sacking its 300 workers by text message (passing them to the liquidator), not before selling its website to a 'related company', initially sparking fears of director or practitioner misconduct. [12] [13]

On June 5, 2025, the company placed itself into voluntary administration as well, telling the ASX "that the company is, or is likely to become, insolvent". They appointed BDO as administrators. [2] It comes after years of losses and the departure of a CEO focused on increasing its online presence.

References

  1. ↑ "Australia's Toys R Us stores to close down". BBC News. 21 June 2018. Retrieved 21 June 2025.
  2. 1 2 3 Yun, Jesica (5 June 2025). "Toys 'R' Bust: Once-popular toy retailer collapses for a second time". Sydney Morning Herald . Retrieved 9 June 2025.
  3. ↑ Sir Laptop Films (8 March 2024). "The Story of World 4 Kids & Toys R Us in Australia". YouTube . Retrieved 25 June 2025.
  4. ↑ "Toys 'R' Us to close down around Australia, 700 people to lose their jobs". ABC News (Australia). 20 June 2018. Retrieved 26 June 2025.
  5. ↑ "Toys 'R' Us goes into administration in Australia | News.com.au". www.news.com.au. 21 May 2018. Retrieved 11 November 2019.
  6. ↑ "Toys R' Us is officially shutting shop". The West Australian. 20 June 2018. Retrieved 21 June 2018.
  7. ↑ "Australia's Toys R Us stores to close". SBS News. Retrieved 21 June 2018.
  8. ↑ Mullen, Jethro (21 June 2018). "Toys 'R' Us is shutting down in Australia, too". CNN. Retrieved 15 July 2018.
  9. ↑ Zahn, James (5 June 2019). "Tru Kids Brands Partners with Hobby Warehouse for Australian Toys "R" Us Relaunch • The Toy Book". The Toy Book. Retrieved 9 July 2019.
  10. ↑ "Iconic store set to return to Australia after five years". 7 News. 22 June 2023. Retrieved 20 May 2025.
  11. ↑ Ignacio, Celene (22 April 2024). "Toys R Us to acquire arts and crafts retailer Riot". Inside Retail Australia. Retrieved 24 June 2025.
  12. ↑ Keating, Eloise (28 October 2020). "Riot Art & Craft online business sold to "related entity" prior to liquidation". SmartCompany. Retrieved 24 June 2025.
  13. ↑ McPherson, Emily (26 October 2020). "Staff sacked by text message after all Riot Art & Craft stores close". Nine News . Retrieved 24 June 2025.
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