The retail company is canceling the bankruptcy auction of its intellectual property assets, according to court documents filed this week. This could lead to the opening of new Toys R Us and Babies R Us stores and the creation of other business under its familiar brand.
A small number of the company’s employees and executives have continued to work out of the New Jersey headquarters and now the group of lenders who were quick to shut the iconic stores down have done an about face.
They issued a press release late yesterday saying it is working on a plan that could bring "new and re-imagined Toys R Us and Babies R Us stores" back to the United States. Part of that may be Geoffrey's Toy Box, which was introduced at the Dallas Toy Show.
Toys R Us filed for Chapter 11 bankruptcy protection last year, then announced a shut down of all its American stores while selling off its international operations.