KB Toys
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| Former type | Private |
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| Fate | Bankruptcy |
| Founded | 1922 |
| Defunct | 2009 |
| Headquarters | Pittsfield, Massachusetts |
| Industry | Retail |
| Products | Toys, electronics, board games, dolls, and video games. |
| Website | None |
KB Toys (previously known as Kay Bee Toys) was a chain of mall-based retail toy stores in the United States. It was founded in 1922 by the Kaufman brothers. KB operated 605 stores in 44 U.S. states, Puerto Rico as well as Guam. It was privately held in Pittsfield, Massachusetts. KB Toys was owned by Big Lots and Melville Corporation at one time. It was also the oldest-operating toy chain in North America before its demise.
Following the company's second bankruptcy in five years, the chain was liquidated beginning in December 2008. The sales were concluded on February 9, 2009.[1] The company is currently in the process of preparing for a relaunch as an online venture.
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[edit] Operations
At the time of its liquidation, KB Toys operated three distinct store formats: KB Toys, KB Toy Works, and KB Toys Outlet (aka Toy Liquidators). KB Toys stores were mostly found in the company's traditional base of shopping malls, where many of its stores were located for years. KB Toy Works stores were typically found in outdoor strip malls. KB Toys Outlet and Toy Liquidators stores, as the name implies, were usually found in outlet centers/malls.
[edit] Financial trouble
Due to increasing competition from national discount chains such as Wal-Mart, Toys "R" Us, and other discount chains on January 14, 2004, KB Toys filed for Chapter 11 bankruptcy protection and closed 365 stores.
KB closed 156 stores on November 8, 2007. The Gordon Brothers Group handled the liquidation of these stores.
On February 9 2009, KB closed the remaining stores following the second bankruptcy filing in four years. In addition, KB Toys' website was closed down.
The KB Toys brand and related intangible assets are currently being sold by Streambank LLC based in Needham, MA.
KB Toys is hoping to reopen in the future according to their website http://kbtoys.com.
[edit] References
[edit] External links
- KB Toys -- Company History FundingUniverse.com, dense overview of business history as of 2006 (~15kb)
- KB Toys Website
