Toys R Us Cancels Bankruptcy Auction, Sets Stage For Comeback

October 3, 2018
Toys R Us, Sale, Liquidation, Closing, Storefront

(Photo by Chris Pedota/NorthJersey.com via USA TODAY NETWORK)

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Down, but not for very long, Toys R Us has already started planning its comeback.

Those in control of the former retail giant have pulled out of a bankruptcy auction which would have licensed off the brand's intellectual properties.  Set to be included in the auction were brand names, the website domain names, and the rights to Geoffrey the Giraffe.  Instead, by canceling the auction, a proposed reorganizational plan would allow Toys R Us to relaunch a retail business using those assets.

Even after closing more than 700 stores earlier this year, Toys R Us has hinted at a potential comeback, writing on social media "Stay tuned here for news and information on the next chapter for Geoffrey and the iconic Toys R Us brands."  Those posts have since been deleted.

Via USA Today