Toys R Us bankruptcy auction canceled, brand set for revival

*Shark_Blade* · 10-02-2018, 08:12 PM

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.

*oldmanwinters* · 10-02-2018, 08:38 PM

Meh, somebody just bury that dead horse.

*IMJ* · 10-02-2018, 08:46 PM

I was sort of hoping that this would turn out like a Hostess thing....

*CylonsKlingonsDaleksOhMy* · 10-02-2018, 09:24 PM

Wow. Did not see that coming.

~~Leo656~~ · 10-02-2018, 10:50 PM

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.

*Powder* · 10-02-2018, 11:00 PM

Unless they fix all the aspects that sucked beforehand, like overcharging, damaged/outdated stock, etc, I don't care.

*Prowler* · 10-03-2018, 02:53 AM

Quote:

Originally Posted by Leo656

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.

*Wildcat* · 10-03-2018, 03:39 AM

*Prowler* · 10-03-2018, 05:24 AM

Quote:

Originally Posted by Wildcat

https://i.postimg.cc/c6ymJ6HC/2j9o6o.jpg

...I guess it'd be a good marketing trick.

*Wildcat* · 10-03-2018, 06:12 AM

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.

*oldmanwinters* · 10-03-2018, 08:10 AM

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).

*sdp* · 10-03-2018, 01:34 PM

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.

*IndigoErth* · 10-03-2018, 03:39 PM

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.

**Jester** · 10-09-2018, 07:45 PM

So, how 'bout that toy store....

*Prowler* · 10-09-2018, 07:46 PM

Quote:

Originally Posted by Jester

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!

10-02-2018, 08:12 PM	#1
Shark_Blade Emperor Join Date: Mar 2007 Posts: 7,909	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.

10-02-2018, 08:38 PM	#2
oldmanwinters Overlord Join Date: Feb 2004 Location: Between yesterday and tomorrow! Posts: 15,508	Meh, somebody just bury that dead horse. __________________ Experience the TMNT Fan Commentaries! Check out my TMNT fan comic, "Nothing to Fear"! View my sketch work! I'm selling some of my hard-to-find TMNT items!

10-02-2018, 08:46 PM	#3
IMJ Emperor Join Date: Aug 2006 Location: Midwest, U.S.A. Posts: 8,895	I was sort of hoping that this would turn out like a Hostess thing.... __________________ Wave 1 Collectibles Online Market Watch Blog Collection Photography

10-02-2018, 09:24 PM	#4
CylonsKlingonsDaleksOhMy Annalist Join Date: Jul 2004 Posts: 16,435	Wow. Did not see that coming. __________________ *ALL THEIR DAYS ARE NUMBERED*

10-03-2018, 03:39 AM	#8
Wildcat Foot Elite Join Date: Aug 2006 Location: AZ Posts: 3,516	__________________ Nothing can survive the will to stay alive, cause if you try, you can do anything.

10-02-2018, 10:50 PM	#5
~~Leo656~~ Banned Join Date: Mar 2003 Location: nWo Country Posts: 27,703	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.

10-02-2018, 11:00 PM	#6
Powder 40 Years of TMNT Join Date: Mar 2009 Location: Shell-Ri-La Posts: 26,956	Unless they fix all the aspects that sucked beforehand, like overcharging, damaged/outdated stock, etc, I don't care.

10-03-2018, 06:12 AM	#10
Wildcat Foot Elite Join Date: Aug 2006 Location: AZ Posts: 3,516	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. __________________ Nothing can survive the will to stay alive, cause if you try, you can do anything.

10-03-2018, 08:10 AM	#11
oldmanwinters Overlord Join Date: Feb 2004 Location: Between yesterday and tomorrow! Posts: 15,508	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). __________________ Experience the TMNT Fan Commentaries! Check out my TMNT fan comic, "Nothing to Fear"! View my sketch work! I'm selling some of my hard-to-find TMNT items!

10-03-2018, 01:34 PM	#12
sdp Detoxed Member Join Date: Feb 2005 Location: Tokio, Italy Posts: 11,222	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. __________________ *Trapt* *urself Page MiscRave!!!* Click to join The Drome Discord server

10-03-2018, 03:39 PM	#13
IndigoErth Team Blue Boy Join Date: Jun 2014 Location: U.S., East Coast Posts: 16,296	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.

10-09-2018, 07:45 PM	#14
Jester Rat-faced Dude-guy Join Date: Feb 2004 Location: Arkansas Posts: 26,301	So, how 'bout that toy store.... __________________ "Clearly, you're Ninja Turtling incorrectly." - Leo656