The iconic Toys “R” Us flagship store in Times Square closes its doors Wednesday, Dec. 30 at 6 p.m. – for ever.
Toys “R” Us has been in Times Square since 2001, but it’s not renewing its lease.
The Times Square Toys “R” Us is known for its indoor Ferris wheel, life-sized Barbie house and T-Rex robot, which was howling over the heads of shoppers on Thanksgiving night, as it has for many years.
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The T-Rex was in a popular spot, standing among the Star Wars section with its lightsabers and Yoda robots, the Lego section with its detailed sculptures of the Statue of Liberty and the Empire State Building, and the drone display.
Even though the flagship store is closing, it won’t be shutting down, according to CEO Dave Brandon, who plans to keep it in the neighborhood. Pix11 citing Brandon: “We are actively searching for another location in midtown Manhattan where we can welcome shoppers from around the world, ” he said, noting that there are more than 800 stores in the U.S. But it’s unclear what will happen to T-Rex. “We are in the process of identifying any future use, ” he said.
On July 21, 2005, a consortium of Bain Capital Partners LLC, Kohlberg Kravis Roberts (KKR) and Vornado Realty Trust invested $1.3 billion to complete a $6.6 billion leveraged buyout of Toys “R” Us.