 
|
Posts with tag: the-parent-co | Return to ShoppingBlog.com Homepage
Toys 'R' Us Buys eToys.com
 Toys 'R' Us, Inc. has acquired its formal rival, eToys.com, from The Parent Co., which filed for bankruptcy protection in December. In addition to the etoys.com website the deal also includes BabyUniverse.com and ePregnancy.com.
"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," said Jerry Storch, Chairman and CEO, Toys"R"Us, Inc. "We believe the acquisition of eToys.com, together with BabyUniverse.com and ePregnancy.com, will advance our leadership in the toy and baby products sectors and position the company for strong market share growth. We are committed to providing loyal customers of these sites with an enhanced online experience, while continuing to offer a differentiated merchandise assortment and the service excellence they have come to expect."
Toys 'R' Us says all three of the acquired websites will continue to operate under their current domain names. Toys 'R' Us, Inc. will assume responsibility for all operations of the sites including merchandising, site management, distribution and marketing. The company did not disclose how much it paid for the websites. Presently, only ePregnancy.com is operational. The other two sites - etoys.com and babyuniverse.com - say the website is in the process of "revitalizing, re-energizing and re-launching."
Posted on February 12, 2009
Permalink | Subscribe | | | Comments (View)
| |
The Parent Company Files For Bankruptcy Protection
 Reuters reports that The Parent Company has filed for Chapter 11 bankruptcy protection. The online retailer runs several baby and toy websites including eToys.com, BabyUniverse.com and PoshTots.
Parent Co, which changed its name from BabyUniverse in January, listed its total assets at $20.6 million and total debts at $35.7 million as of Dec. 22, according to its filing in U.S. Bankruptcy Court in Delaware.
D.E. Shaw held 63 percent of the company's shares outstanding as of Sept. 30, according to Reuters data. D.E. Shaw affiliates became large shareholders in the company in 2007 when eToys Direct Inc merged with BabyUniverse.
Parent Co said in court documents that its board had determined that it was in the best interest of the company to sell substantially all of its assets.
In a separate statement, it said nine of its subsidiaries also filed for bankruptcy protection.
About the bankruptcy filing Parent Co. Chief Executive Michael Wagner said, "This action is an unfortunate but necessary and responsible step to preserve the company's value for our stakeholders in light of the ongoing challenging retail environment."
They company has hired Oppenheimer & Co to help them sell some or all of its businesses. See also Playthings, Internet Retailer, Forbes and Bizjournals for more news on the Parent Co. bankruptcy.
Posted on December 29, 2008
Permalink | Subscribe | | | Comments (View)
| |
|
| The Writers Write Lifestyle Network
|
Sales & Coupons
|
ShoppersShop.com's Sales & Deals section includes coupons,
sales and free shipping offers.
| |
Search ShoppingBlog.com
|
