Report: Toys ‘R’ Us preps for a turnaround with ‘Project Sunrise’ plan

Looking toward the future, Toys ‘R’ Us’ CEO has established a recovery plan.



In a meeting at Toys “R” Us’ pop-up store in Times Square, chief executive David Brandon outlined the company’s turnaround plan, internally called “Project Sunrise.” From a high-level, it includes integrating its online and in-store shopping experiences, adding faster shipping and better technology and customer service, according to Reuters.



The chain’s older suburban big-box shops will also be overhauled to give kids a chance to try out toys in the store. The chain will also open smaller stores in urban areas, including Washington, D.C., Boston and Detroit. The chain’s 64,000 workers could also see wage increases, Reuters said.



Toys ‘R’ Us filed for Chapter 11 bankruptcy protection late Monday night in federal court in Richmond, Va. The company is to working with its debt-holders and other creditors to restructure the $5 billion of long-term debt on its balance sheet.



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