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October 4, 2018 01:25 am
Original Link: http://rss.slashdot.org/~r/Slashdot/slashdot/~3/GmwFUT9QiME/toys-r-us-cancels-bankruptcy-auction-plans-to-revive-brand
Toys R Us Cancels Bankruptcy Auction, Plans To Revive Brand
Toys "R" Us may not be dead after all. According to Reuters, "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." From the report: 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 lenders also plan to expand its international presence and further develop its private brands business. The bids were not superior to the plan to revive the brand as it did not offer "probable economic recovery" to creditors as well as benefits to stakeholders who would maintain the brands under the new independent U.S. business, the court filing showed. Under the intellectual property auction, the company had planned to sell its assets, including the brand names of Toys "R" Us, Babies "R" Us, registry lists, website domains, Geoffrey the Giraffe and other assets. The company filed for bankruptcy protection in September last year, but later said it would sell or close all 800 of its U.S. stores.Read more of this story at Slashdot.
Original Link: http://rss.slashdot.org/~r/Slashdot/slashdot/~3/GmwFUT9QiME/toys-r-us-cancels-bankruptcy-auction-plans-to-revive-brand
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