The Toys ‘R’ Us brand could be rejuvenated

new york
cnn business
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Toys “R” Us might be coming back.

The company closed all of its US stores in June as part of a bankruptcy liquidation. But the owners of the company’s remaining assets are considering reviving the business, as well as the related Babies “R” Us brand, the company disclosed in a court filing this week.

Toys “R” Us had planned to auction off the rights to its name and the Babies “R” Us brand. According to the filing, bidders had already made offers for them. But the owners of the company decided to cancel the auction.

The company said it is considering “a new, operating Toys ‘R’ Us and Babies ‘R’ Us branding company,” the filing said. The plan will “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 brand business.”

Details on when and how the brand will be brought back were not given.

The fact that other bidders were interested in purchasing the name does not mean that others were looking to bring it back to life. Companies often buy competitors’ brands out of business in bankruptcy court to ensure that the brand cannot be used again by a new competitor. The bankruptcy filing also did not provide details about who wanted to buy the Toys “R” Us brand.

Toys “R” Us filed for bankruptcy a year ago, with plans to use the restructuring process to shed debt and stay in business. But after a very poor Christmas shopping season, the company announced in March that it would close its remaining 800 U.S. stores and go out of business.

This resulted in the loss of jobs for approximately 31,000 workers. The 70-year-old retailer closed in June.