It seems like we’ll be seeing Geoffrey the Giraffe again soon! According to The Wall Street Journal, the controlling lenders of the toy brand have cancelled their bankruptcy auction. Deeming it too valuable to sell, they intend to revive the beloved Toys R Us and Babies R Us. The two stores are also cooking up new branding and a wider international presence for their comeback.
Hold the auction. Looks like Toys R Us and Babies R Us are here to stay after all.
“[We 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,” states the toy company’s new owner.
Looks like a whole new generation of kids will enjoy the Toys R Us stores just as we did.