Child World
Company type | Corporation |
---|---|
Industry | Retail |
Founded | 1962 |
Defunct | September 12, 1992 |
Fate | Liquidation 1992 Relaunched 2022 |
Headquarters | Centerville, Ohio 2022 - current [Avon. Massachusetts} |
Products | Toys |
Website | www.childrenspalace.net |
Child World was an American
History
Beginnings and early expansion
Child World was founded by Joseph Arnesano & Sid Schneider in Quincy, Massachusetts in 1962. It became a publicly-traded corporation in 1968, based in Avon, Massachusetts.[1]
After its acquisition of Children's Palace, from Kobacker Stores in 1975,[2] Child World became the second largest toy retailer in the United States after Toys "R" Us. In many areas Child World stores operated near Toys "R" Us locations.[citation needed]
Post merger, Child World began incorporating the Children's Palace stylized castle decor into its new stores. The 1981 purchase of Child World by Cole National Corporation was followed by 1984's Kohlberg Kravis Roberts takeover of Cole.[3]
Until 1990 under President Peter Hayes, Child World employed a warehouse merchandising style with long aisles and over-stock storage above selling shelves.[citation needed]
Sales began to decline by the late 1980s, so in 1989 the chain announced a different 29,000 sq ft (2,700 m2) store format. It was initially trialed in
Downfall
In 1990, Peter Hayes and several fellow executives were terminated. Consumer confidence was generally low and there were no must have toys on the market to drive sales as they had done in the 1980s.[citation needed]
Cole National began restricting the amount of money it provided to the subsidiary causing
Child World ended 1990 with US$830 million in
Bankruptcy, failed merger, and liquidation
In April 1992, Child World applied for
In 2022 Children's Palace opened several pop-up locations for the Christmas holiday season.Today there are threeb year round Children's Palace stores located in Ohio and Pennsylvania.
Store design
Child World was known largely for making its stores resemble castles, complete with
Mascot
The mascot for Child World was originally a cartoon
In popular culture
A Child World store that stood at 7600 West Roosevelt Road in
Mark Wahlberg mentions it in Ted 2, as the place where Ted the foul-mouthed bear was purchased.[8]
References
- ^ a b c Bryant, Adam (May 8, 1992). "Child World Files for Bankruptcy". The New York Times. Archived from the original on 2008-05-29. Retrieved 2007-11-30.
- ^ "Child World Buys Toy Division". The Wall Street Journal. April 14, 1975. p. 3. Archived from the original on March 5, 2016. Retrieved July 5, 2017.
Child World Inc., said it bought for $3.5 million K.B. Marketing Systems Inc.'s toy division, consisting of nine retail stores under the name Children's Palace.
Alternate Link Archived 2023-01-11 at the Wayback Machine via ProQuest. - ^ a b c "Company History: Cole National Corporation". Funding Universe. Archived from the original on 2008-10-27. Retrieved 2008-11-03.
- ^ a b c Liebeck, Laura (August 3, 1992). "Child World is grounded: rescue by Lionel falters - Lionel Kiddie City". Discount Store News. Archived from the original on January 4, 2009. Retrieved June 22, 2009.
- ^ Heiler, Brian. "Vintage Toy Store Pictures Part Five". Plaid Stallions (blog). Archived from the original on 2008-05-10. Retrieved 2008-04-12.
- ^ "The '80s Movies: Rewind...The Color of Money". fast-rewind.com. Archived from the original on 2017-04-28. Retrieved 2017-04-27.
- ^ Demster, Chas. "Filming Locations of Chicago and Los Angeles: The Color of Money". itsfilmedthere.com. Archived from the original on 2017-08-26. Retrieved 2017-04-27.
- ^ "John Slattery:Shep Wild". IMDB. Archived from the original on 2022-11-13. Retrieved 2022-11-13.