Our childhood isn’t dead after all, it’s just getting rebranded.
The beloved toy store, Toys ‘R’ Us might still be out of business, but it looks to be getting rebranded with their famous mascot now in front and center.
It was previously reported that Toys ‘R’ Us Inc. lenders, who took control of the company when it was in its liquidation stages, was working on bringing the company back, and it appears as though they’ve done it.
The news of this forthcoming store comes days after the store’s mascot Geoffrey the giraffe appeared at the Dallas Toy Preview, wearing a cape that featured the company’s new logo and store name.
“Wholesale toy distributor and intellectual property company whose focus is on popular play patterns across trusted brands that kids and parents love. Geoffrey’s Toy Box is a fully outfitted organization with design, development and global sourcing expertise.”
Plus, you can see the photo of Geoffrey in his new gear below:
There’s not a lot of information about the new store, but we do know that the company plans to release stores under the name of Geoffrey’s Toy Box sometime this November!
Toys ‘R’ Us reboot:
In a past report from Bloomberg, unnamed sources have said that former Toys “R” Us CEO Jerry Storch has been in contact with multiple investors to see if a reboot of the beloved toy chain would be possible.
A court report posted on Oct. 2 revealed that while the retailer received bids for the company’s assets – which included the names of its brands Toys “R” Us and Babies “R” Us, the Geoffrey the Giraffe mascot, website domains and more – has decided against the bankruptcy auction of its brand name and other intellectual property assets.
So, instead of the highly anticipated bankruptcy auction, the company is proposing a new reorganizational plan to add its assets into a new company. One that will keep the former’s current license agreements.
The kicker, however, is that under this new company, they can also invest in new retail opportunities, like creating a new “retail operating business.”
Toys “R” Us announced its original plans to sell or close all 800 U.S. stores, a plan that soon turned into the retailer closing all locations.
The news comes after the company filed for bankruptcy in 2017, struggling to pay almost $8 billion in debt.
Are you excited for Toy’s ‘R’ Us’ revival? Let us know in the comments below!