Toys R Us Bankruptcy Auction Canceled, Brand Set for Revival

Geoffrey the Giraffe may be coming back to life.

The Toys R Us Inc. lenders that took control of the retailer during its liquidation — and have faced criticism for their role in the shutdown — are now working on resuscitating the brand, according to new court documents.

In a bankruptcy court filing Monday, the funds said they had canceled a plan to auction off the company’s intellectual property. Instead, they are seeking to reorganize the assets into a new company that would maintain the current license agreements and could invest in new retail operating businesses.

Read the full story at LATimes.com