Is Toys R Us Coming Back? Say It’s So!
WAYNE, N.J. – There could be a chance that Toys R Us will be making a comeback. Maybe. Hopefully.
Geoffrey LLC, the intellectual property holding company subsidiary of Toys R Us, Inc., announced in a press release it is moving forward with a plan to have its assets acquired by a group of investors led by Geoffrey, LLC’s existing secured lenders.
The lenders originally planned to auction off the company, but scrapped those plans in favor of reviving the brand, according to a bankruptcy court filing obtained by The Wall Street Journal.
The reorganized Geoffrey, LLC, would control the Toys R Us trademark.
“…The new owners are 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,” according to the press release. “Geoffrey LLC will provide additional detail on this front as it becomes available.”
It notes the transaction is pending approval of the United States Bankruptcy Court.
So while the deal isn’t set in stone, there is a chance — maybe, hopefully — that Toys R Us will be back in some new form.
Perhaps we can all be Toys R Us kids again!
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