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Toys 'R' Us acquires eToys, other sites
Denver-based owner Parent Co. filed for Chapter 11
Published February 13, 2009 at 12:05 a.m.
Toys "R" Us on Thursday said it purchased eToys and several other Web sites from the Parent Co., which filed for bankruptcy protection in December.
Financial terms weren't disclosed.
The purchase of eToys by Toys "R" Us makes for at least the fourth owner of the online toy retailer, which was founded in 1997 and became one of the superstars of the dot-com era before filing for Chapter 11 in 2001.
It was later purchased by KB Toys and then sold to D.E. Shaw, which merged the retailer with the Parent Co.
"EToys.com is a highly respected brand with a rich heritage of innovation and growth, and we look forward to championing the next phase of its evolution," Jerry Storch, chairman and chief executive officer of Toys "R" Us, said in a statement.
The Toys "R" Us purchase also includes e-commerce site BabyUniverse.com and parenting resource Web site ePregnancy.com. All three Web sites will continue to operate under their current domain names.
Denver-based Parent Co. listed assets of $20.1 million and debt of $35.7 million when it filed for Chapter 11 protection following a disappointing holiday season.
Net sales were about $20 million in the first half of fiscal 2008, compared with about $106 million for all of the previous year, court papers show.
The Parent Co. said at the time of its bankruptcy that it planned to sell its assets at auction.
The company's other units include BabyUniverse, Dreamtime Baby, PoshTots, Gift Acquisition and My Twinn.
Wayne, N.J.-based Toys "R" Us is the nation's biggest toy and baby products retailer with more than 1,550 stores.
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