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Toys R Us auction cancelled; plan underway to revive the brand

Posted at 6:07 PM, Oct 02, 2018
and last updated 2018-10-02 19:07:16-04

The top lenders of Toys ‘R’ Us have decided to cancel the bankruptcy auction of its brand name and other intellectual property assets and instead plan to revive the Toys ‘R’ Us and Babies ‘R’ Us brand names, the Reuters wire reports.

The bankrupt retailer’s debtors aim to open a new Toys R Us and Babies R Us branding company that maintains existing global license agreements and can invest and develop new retail shops, the wire reports.

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