Toys R’ Us Cancels Bankruptcy Auction as It Attempts a Revival!

According to several reports, Toys R’ Us could be making a comeback after its’ owners abruptly cancelled their bankruptcy auction.

From CNN Money:

Toys “R” Us may 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 looking into restarting 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. Bidders had already made offers for them, according to the filing. But the company’s owners 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 would “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 brands business.”

The details of when and how the brand would be brought back to life were not disclosed.

You can read more about their potential revival from CBS News and USA Today.

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