Big news for Toys “R” Us fans.
Well it didn’t take long, but Toys R Us has announced it will attempt a comeback. The company shut down all of its US stores back in June as part of a bankruptcy liquidation. The owners of the remaining assets are now looking to restart the company and this includes the Babies “R” Us brand.
Toys “R” Us originally planned to auction off their rights to the name and the Babies “R” Us name as well. According to the court filings, bidders had already made offers, but the company’s owners decided to cancel the auction.
Toys “R” Us said it is considering “a new, operating Toys “R” Us and Babies “R” Us branding company.” Their plan would include to “create new, domestic, retail operating businesses under the Toys “R” Us and Babies “R” Us names, as well as expand its international presence and further develop its private brands business.”
There were no details of how or when the brands would be brought back to life. And there were no details given on who the parties were that have placed bids on the name.
Toys “R” Us filed for bankruptcy a year ago and planned to reorganize to eliminate debt so they could continue to operate. They never improved, had a less than stellar Christmas season and announced in March that it would close the remaining 800 US stores and shut down for good costing about 31,000 people their job.
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