Toys “R” Us could be revived
The Toys “R” Us and Babies “R” Us brand names could be revived by the hedge fund group who are set to take control of the retailers. In court papers filed Monday, the retailer has opted to forgo a bankruptcy auction for its brand name and other intellectual-property assets, reports The Wall Street Journal. The court papers said Toys “R” Us could see “a new, operating Toys ‘R’ Us and Babies ‘R’ Us branding company that maintains existing global license agreements and can invest in and create new, domestic, retail operating businesses.” The Wall Street Journal reported recently that Toys “R” Us private-equity backers Bain Capital and KKR & Co. will create a $20 million fund to be distributed to the 33,000 workers left without jobs when 800 U.S. Toys “R” Us stores shut.
June 4, 2019