Toys R' Us is coming back
In March 2018, Toys R' Us and Babies R' Us announced it will be closing all its stores as part of its bankruptcy liquidation. The company were not receiving enough sales to support the businesses, which left the brand $5 billion in debt. Recently, the auction for the business was cancelled. The new owners then decided to use the last of their assets to restart the business, according to CNN.
When they first closed their stores, they started an auction to sell off their stores and brand. They received many offers before they decided to cancel the auction. The company now plans to be organized by a group of investors led by Geoffrey, LLC, according to ABC 7.
Geoffrey, LLC, says it is "actively working with potential partners to develop ideas for new Toys 'R' Us and Babies 'R' Us stores in the United States and abroad that could bring back these iconic brands in a new and re-imagined way."
Geoffrey LLC adds that "the reorganized company would control a portfolio of intellectual property that includes trademarks, ecommerce assets and data associated with the Toys 'R' Us and Babies 'R' Us businesses in the United States and all over the world, including a portfolio of over 20 well-known toy and baby brands such as Imaginarium, Koala Baby, Fastlane and Journey Girls."
The company will control all the stores under the branding globally except Canadian stores.