KB Toys Buys the EToys URL

Baldwin Louie — Fri, 18 May 2001 18:00:00 -0400

NEW YORK (Reuters) - Privately held specialty toy retailer KB Toys said on Friday it has successfully purchased more assets of the now-defunct eToys Inc. for $3.35 million, just one month after the company purchased about $5.4 million in inventory from the failed dot-com retailer.

The Pittsfield, Mass.-based KB Toys, which used to be a unit of retailer Consolidated Stores Corp., said Friday it bid about $3.35 million for eToys intellectual property assets and services as part of the auction process in eToys' bankruptcy proceedings.

eToys filed for bankruptcy protection in March. Consolidated Stores recently changed its name and trading symbol to Big Lots Inc. (BLI.N)

This recent transaction follows KB Toys' bid in late April for a substantial portion of eToys' inventory, which will be offered at KBkids.com as well as in KB Toy Works, KB Toy Outlet and KB Toy Liquidator stores.

The assets purchased today include eToys' trade names, logos, URLs and trademarks. eToys also has agreed to provide e-mail services, including contacting its customers with information about how they can continue their online toy shopping through the KBkids.com e-commerce site.

KB Toys said it will continue online operations in Denver as KBkids.com and will integrate the acquired assets into KBkids.com.

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KB Toys Buys the EToys URL