Boston, MA- After a 5 month hiatus following the closing of 800+ locations, Toys R Us is making a comeback. According to court documents obtained by the Wall Street Journal, the company abandoned the sale of the name and branding, and instead is holding on to them.
Toys R Us began in 1948 as a DC-based store that sold cribs and strollers. In over 70 years in business, the brand grew to over 1,600 stores worldwide pitching the latest in children’s toys. IN 2017, under enormous debt, Toys R Us shuttered it’s doors, along with Babies R Us. More than 30,000 retail workers lost their jobs.
Now in late 2018, several members of the board decided that the selling of the name and branding was too valuable.
In a press release, the company stated,” Geoffrey, LLC, Toys “R” Us, Inc.’s intellectual property holding company subsidiary, announced today that it is moving forward with a plan for substantially all of its assets to be acquired by a group of investors led by Geoffrey, LLC’s existing secured lenders.”
Geoffrey, LLC, as reorganized, will control a portfolio of intellectual property that includes trademarks, ecommerce assets and data associated with the Toys “R” Us and Babies “R” Us businesses in the United States and all over the world, including a portfolio of over 20 well-known toy and baby brands such as Imaginarium, Koala Baby, Fastlane and Journey Girls. The reorganized company will own rights to the Toys “R” Us and Babies “R” Us brands in all markets globally, with the exception of Canada. It will also become the licensor of the brands to the company’s existing network of franchisees operating in countries across Asia, Europe and the Middle East, and in South Africa.
In addition to continuing to service these markets, 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. Geoffrey LLC will provide additional detail on this front as it becomes available.
There is no word on how the locations will be set up or where.