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Old 10-02-2018, 07:12 PM   #1
Shark_Blade
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Thumbs up Toys R Us bankruptcy auction canceled, brand set for revival

https://www.polygon.com/2018/10/2/17...-us-bankruptcy

The IP was simply too valuable to give up

Toys R Us will live to see another day, as its controlling lenders choose to pull out of the bankruptcy auction.

The Wall Street Journal reports that Toys R Us’ controlling lenders “intend to revive the business behind the Toys ‘R’ Us and Babies ‘R’ Us brand names.” The goal is to “create new, domestic, retail operating businesses” while maintaining its licensing of certain products worldwide, according to court documents filed Monday, as reported by the Journal. The company’s lenders decided to reverse the order after speaking to controlling parties and deciding the brand was too valuable to give up.

Toys R Us representatives first announced that the company was filing for bankruptcy protection in September 2017. Dave Brandon, CEO and chairman of Toys R Us, addressed concerns about the company’s financial future at that time in a statement. That statement can be read below.

Our objective is to work with our debtholders and other creditors to restructure the $5 billion of long-term debt on our balance sheet, which will provide us with greater financial flexibility to invest in our business, continue to improve the customer experience in our physical stores and online, and strengthen our competitive position in an increasingly challenging and rapidly changing retail marketplace worldwide.
Since then, Toys R Us closed and sold all 735 remaining stores in the United States and ended sales on its website. The Wall Street Journal also reported that “the absence of Toys ‘R’ Us has also left an $11 billion hole in the toy industry.”

Polygon has reached out to Toys R Us for more information.
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Old 10-02-2018, 07:38 PM   #2
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Meh, somebody just bury that dead horse.
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Old 10-02-2018, 07:46 PM   #3
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I was sort of hoping that this would turn out like a Hostess thing....
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Old 10-02-2018, 08:24 PM   #4
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Wow. Did not see that coming.
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Old 10-02-2018, 09:50 PM   #5
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I'll celebrate when I can walk into a Toys R Us store again and walk out with a bunch of sh*t I absolutely don't need.

Until then, it's all just words. Here's hopin', though.
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Old 10-02-2018, 10:00 PM   #6
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Unless they fix all the aspects that sucked beforehand, like overcharging, damaged/outdated stock, etc, I don't care.
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Old 10-03-2018, 01:53 AM   #7
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I'll celebrate when I can walk into a Toys R Us store again and walk out with a bunch of sh*t I absolutely don't need.

Until then, it's all just words. Here's hopin', though.
TRU never closed in my country. I bought Animal Crossing Happy Home Designer at TRU a few weeks ago. Probably didn't close in many other European countries either.
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Old 10-03-2018, 02:39 AM   #8
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Old 10-03-2018, 04:24 AM   #9
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...I guess it'd be a good marketing trick.
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Old 10-03-2018, 05:12 AM   #10
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Ya I don’t really believe that though. I just like the conspiracy jokes because a lot of people assume the worst about stuff. Makes me laugh.
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Old 10-03-2018, 07:10 AM   #11
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Seems like this has all the signs of a corporate desperate to still profit off their brand while trying to get out of debt obligations. I still say that world might be better off without TRU (but I thought the same thing about Twinkies too).
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Old 10-03-2018, 12:34 PM   #12
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As I posted in the closing of TRU thread the industry needs a toy store to buy toys so companies can profit and other cool products can be made, even if you hated TRU it was good for the industry in general. Also TRU didn't close because it was doing especially bad, it just couldn't pay its debt it irresponsibly gathered.
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Old 10-03-2018, 02:39 PM   #13
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Would that lead to some stores reopening?

Was just past mine today, probably the first time since it closed, and was kind of surprised to see their signs are still up on the building.

Curious what this will do to KB's comeback plans and if it had any part of it, an old competitor threatening to jump on the empty territory.
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Old 10-09-2018, 06:45 PM   #14
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So, how 'bout that toy store....
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Old 10-09-2018, 06:46 PM   #15
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So, how 'bout that toy store....
I bought Animal Crossing happy Home Designer at TRU a few weeks ago. it came with an Isabelle amiibo to boot. Pretty nice!
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