Come back, Geoffrey.
Toys R us Inc. has canceled the auction of their brand. And the reason why? They seek to revive the business behind the Toys R Us and Babies R Us brand names.
According to the Wall Street Journal:
Toys “R” Us’s proposed reorganization plan contemplates “a new, operating Toys “R” Us and Babies “R” Us branding company that maintains existing global license agreements and can invest in and create new, domestic, retail operating businesses” under the brand name, court papers said.”
Moreover, the controlling lenders determined that any bids for their auction wouldn’t “yield a superior alternative to the plan.”
This means that the company, as is, will retain ownership of the remaining assets. That is to say, the brand names (Toys R Us and Babies R Us), registry lists, domain names, and, of course, Geoffrey the Giraffe, among other, smaller things.
That said, the form this new Toys R Us will take is far from solidified, yet. So who knows what it will look like?
Source: IGN
About Author
