Child World
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| Company type | Corporation |
|---|---|
| Industry | Retail |
| Founded | 1974 |
| Defunct | 1992 |
| Fate | Liquidation |
| Headquarters | Avon, Massachusetts |
| Products | Toys, electronics, board games, dolls, and video games. |
| Website | None |
Child World, sometimes called Children's Palace depending on location, is a defunct toy store chain founded in Avon, Massachusetts. Generally, and with some exceptions, the Child World brand was used East of the Mississippi, while the Children's Palace name prevailed in the West.[1]Child World once boasted 182 stores and revenues of approximately $830 million annually.
The company was founded in 1974 and by 1977 had acquired the Children's Palace chain of stores.
Into the early 1990s, Child World was led by then-President Peter Hayes. The chain was known for, largely, a 'warehouse' style of merchandising, with long aisles and so-called "over-stock" storage above selling-floor level shelves.
To counter declining sales, in 1989, the chain announced a new 29,000 sq. ft. store prototype designed to appeal to customers and real estate developers alike. The first store remodeled into the new prototype was in Framingham, Massachusetts, near the Shoppers World mall and key competitor, Toys "R" Us, just one block away. Initially, the prototype was well-received, with strong first-day openings, and good performance in the critical Christmas selling season. Owing partly to that success, Child World management announced that the new prototype would be used to renovate 11 existing sites, and new market expansion would be targeted in 1990, 1991 and 1992 using the new design.
But, as the chain's management set its sights on growth, executives at Cole National Corp. had increasing doubts about the company. In 1990 and 1991, the lack of a break-out 'must-have' toy (like Cabbage Patch Kids dolls several years earlier) caused the company to suffer lackluster sales. Hayes and other top managers were removed in early 1990. Cole's subsequent decision to restrict access to capital left Child World unable to procure much-needed merchandise for the critical Fall/Winter selling season; it was also unable to pay creditors and its' suppliers. Following the company's resulting default, many vendors, including LEGO, refused orders from Child World. Empty store shelves, eventually, doomed the retailer.
Bankruptcy
The downfall of Child World began as the company began closing stores in 1991. Despite being the #3 toy retailer in the country at the time, Child World continued to have problems and filed for Chapter 11 bankruptcy protection on May 7, 1992. The next month Child World began talks with another struggling toy retailer, Lionel Kiddie City, to merge and soon after that began an inventory liquidation that would escalate into a total liquidation if the merger was not complete by July 12 of that year, saying that the only chance Child World had to survive was to merge. On August 4 Child World announced the failure of the merger and the inventory liquidation became a going out of business sale, with the company closing its stores within six weeks.[1] (Lionel Kiddie City would meet the same fate as Child World, going out of business in 1993.)
Child World Trademarks
Stores
Child World was known largely for making its stores resemble castles, complete with turrets, battlements, and three arches (two small, one large) in the front door [1]. The corporate logo was written in a "refrigerator-magnet" like typeface. The design starting showing up in newer Child World stores after the 1977 acquisition of Children's Palace. After the company went out of business some of the retailers that took over the Child World spaces retained the design but most did not.
Mascot
The mascot for Child World was a cartoon panda bear named Peter Panda, often depicted wearing overalls with his name printed on them.
The Video Catalog
In 1990 Child World produced a video catalog in time for Christmas that year called "Video Toy Chest: A Toy Catalog on Videotape". This catalogue advertised the toys sold, with child actors talking about the toys, including Sega and Nintendo video game consoles and software. One of the child actors featured in the video was Lacey Chabert.
Slogans
- "Home of the Toy Nuts"
- "Where it's at!" (used in the 1990 video catalog)
- "Discover how much less toys can cost!"
- "Children's Palace... a super toy store, and a whole lot more!"
- "Everything a toy store should be!"
- "There's no other world like Child World"
References
- ^ a b Adam Bryant (May 8 1992). "Child World Files for Bankruptcy". The New York Times. Retrieved 2007-11-30.
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