Toys ‘R’ Us Revival Possible After Bankruptcy Action is Cancelled
Americans were all saddened when, earlier this spring, kids store staple Toys ‘R’ Us announced that it would be shuttering all 735 of its U.S. locations. The revelation seemed to mark the end of an era; sure, kids these days still play with the toys, but brick and mortar stores seem to be unable to compete against certain e-commerce behemoths, (cough, cough, AMAZON, cough, cough).
But, just when we were getting used to the idea of living in a Toys ‘R’ Us-less world, we are now learning that the iconic store may not be forced to fade into obscurity. That’s right, the group of hedge funds that acquired the Toys ‘R’ Us brand has decided to cancel its bankruptcy auction in a bid to breathe new life into the brand. Despite receiving qualified bids for its intellectual assets, the group says that it “plans to reorganize.”
So, what does this mean for the Toys ‘R’ Us lovers of this world? Well, to tell you the truth, we’re not too sure yet, but what we do know is that the group of hedge funds owns the intellectual property of the entire Toys ‘R’ Us brand and that the group does seem to have a grand plan. Here’s a snippet of what was announced in the court documents:
… among other things, 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 Toys ‘R’ Us and Babies ‘ R’ Us names, as well as expand its international presence and further develop its private brands business.
It’s hard to know what the Toys ‘R’ Us and Babies ‘R’ Us revival might look like, but it’s safe to say that the brand will live on and, hopefully, more jobs will be created. Sounds like a good plan to us!
We’d love to hear your thoughts on this possible Toys ‘R’ Us revival. Were you a fan of the store? Do you plan on shopping at the new one? Where do you buy your toys–online or at brick and mortar stores?