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(Reuters) - New York-based brand acquisition and management firm WHP Global said on Monday it had taken a controlling interest in Toys R Us parent, Tru Kids Inc, more than three years after the toy retailer filed for bankruptcy.
Tru Kids, owned by investment funds including Solus Alternative Asset Management, had taken charge of assets including Toys R Us and Babies R Us in early 2019, as part of a plan to revive the brands after the retailer s bankruptcy.
WHP said it would manage the global TRU business going ahead for an undisclosed amount. The deal comes at a time when toymakers, including Hasbro Inc and Mattel Inc, have been seeing a sales boom as people staying indoors buy games.
By Reuters Staff
1 Min Read
FILE PHOTO: Muslim families shop at Toys R Us after Eid Al-Fitr prayers to mark the end of the Ramadan fasting month in Brooklyn, New York, U.S., June 15, 2018. REUTERS/Gabriela Bhaskar
(Reuters) - New York-based brand acquisition and management firm WHP Global said on Monday it had taken a controlling interest in Toys ‘R’ Us parent, Tru Kids Inc, more than three years after the toy retailer filed for bankruptcy.
Tru Kids, owned by investment funds including Solus Alternative Asset Management, had taken charge of assets including Toys “R” Us and Babies ‘R’ Us in early 2019, as part of a plan to revive the brands after the retailer’s bankruptcy.
2 Min Read
(This March 10 story corrects paragraph six to clarify that women are required to make the first move)
FILE PHOTO: The Bumble Inc. (BMBL) app is shown on an Apple iPhone in this photo illustration as the dating app operator made its debut IPO on the Nasdaq stock exchange February 11, 2021. REUTERS/Mike Blake/Illustration
(Reuters) - Bumble Inc on Wednesday said it expects pent up demand from people who had been avoiding dating in person due to the COVID-19 pandemic, after it reported a bigger-than-expected rise in fourth-quarter revenue.
Dating apps have benefited from social distancing restrictions that made people yearn for company as casual gatherings with friends and family became a rarity.
By Sohini Podder (Reuters) - Bumble Inc on Wednesday said it expects pent up demand from people who had been avoiding dating in person due to the COVID-19 pandemic, after it reported a bigger-than-expected rise in fourth-quarter revenue. Dating apps have benefited from social distancing restrictions that made people yearn for company as casual gatherings with friends and family became a rarity. The company said it will build its friendship product Bumble BFF beyond its minimum viable offering as it expects friendships and platonic relationships at large to be a massive opportunity going forward. Texas-based Bumble expects current quarter revenue to be in the range of $163 million and $165 million.