Toys 'R' Us Cancels Bankruptcy Auction, Plans Comeback

posted by Mountain Man Jay - 

Toys "R" Us may be making a comeback after a group of lenders submitted a court filing that details their plans "to revive the business behind the Toys ‘R’ Us and Babies ‘R’ Us brand names." Specifics of the plan were not disclosed, but the lenders said that they hope to "create new, domestic, retail operating businesses under the Toys 'R' Us and Babies 'R' Us names."

According to USA Today, the lenders are operating "a wholesale venture called Geoffrey's Toy Box," which described itself as a "wholesale toy distributor and intellectual property company whose focus is on popular play patterns across trusted brands that kids and parents love." The new company will make an appearance at the North Dallas Toy Show, which opens this weekend.  

Toys "R" Us filed for chapter 11 bankruptcy in September 2017 with the hope of restructuring $5 billion in debt, but decided to shut down operations in the United States last June. The company planned to auction off its intellectual property and had received multiple bids when the lenders decided to call off the auction. 

Photo: Getty Images

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