Toys R Us to reopen US stores under new ownership

Toys R Us plans to reopen some stores in the United States under new ownership, according to an announcement by a management company Monday.

The New York-based brand management company WHP Global said in a press release that it became a “significant shareholder” in Tru Kids, the parent company behind the Toys R Us and Babies R Us brands. WHP plans to open a number of Toys R Us stores again in the U.S., ideally ahead of this holiday season, CNBC reported.