Toys ‘R’ Us May Return with New Name
It was just over six months ago that the announcement came that Toys R Us would be closing all 800 of their stores. Now comes some very promising news.
Bloomberg reports plans to "auction off the company's intellectual property" have been abandoned. Instead, Geoffrey, LLC has announced they're moving ahead with a deal that will let all of the company's assets be obtained by its lenders. Those lenders will then have control over pretty much everything involved with Toys "R" Us and Babies "R" Us.
The best news of all is that the stores could be returning. According to PR Newswire,
... the new owners are actively working with potential partners to develop ideas for new Toys "R" Us and Babies "R" Us stores in the United States and abroad that could bring back these iconic brands in a new and re-imagined way.
You should also know that about the time all of the Toys "R" Us and Babies "R" Us stores were closing their doors, Geoffrey, LLC submitted a trademark for the name Geoffrey's Tox Box.
And who do you suppose showed up at this week's annual Fall Toy Preview in Dallas where toy manufacturers show off new products to retailers? Yes, that's Geoffrey the Giraffe (formerly the mascot for Toys "R" Us) from "Geoffrey's Toy Box." They're in booth 13-3229. "Back from Vacation," huh? Stay tuned...