The company closed all of its US stores in June as part of a compulsory liquidation. But the owners of the company’s remaining assets are planning to restart the business, along with the Babies “R” Us brand associated with it, the company revealed in a court case this week.
Toys “R” Us had planned to auction off the rights to its Babies “R” Us name and brand. Bidders had already made bids for them, according to the filing. But the owners of the business decided to cancel the auction.
The company said it plans to “create a new, operating Toys ‘R’ Us and Babies ‘R’ Us branding company,” the filing said. The plan “would create new national retail businesses under the names Toys” R “Us and Babies” R “Us, as well as expand its international presence and further develop its private label business.”
Details on when and how the brand would be brought back to life were not disclosed.
The fact that other bidders were interested in buying the name doesn’t necessarily mean that others were looking to bring it back to life. Companies often buy the brands of bankrupt competitors in bankruptcy court to ensure that the brand can no longer be used by a new rival. Details of who was looking to buy the Toys “R” Us brand were also not disclosed in the bankruptcy filing.