There is a glimmer of hope for Toys R Us. The failed toy store chain, which went out of business and broke the hearts of generations of Toys R Us kids, may be rising from the ashes.
A bankruptcy auction, which was going to sell off all of the company’s intellectual properties including the brand name, has been cancelled. It sets the stage for a possible reorganization plan for a relaunch of both Toys R Us and Babies R Us.
The company announced back in March that is was shutting down all of its U.S. stores, which it completed over the summer. (CNBC)
- Geoffrey the giraffe finally has a reason to smile.
- This is great news ahead of the holiday shopping season.
- It still seem unlikely that they’ll be able to survive.