(CBSDFW.COM/AP) – Less than four months after all of its locations, a group of investors is planning a comeback for Toys R Us, in the latest twist for the troubled retail brand.
The group, made up of secured lenders, said Tuesday it’s scrapping an auction for intellectual property assets because it didn’t receive any bids that were better than its own.
The investors said they’ll work with potential partners to develop new ideas for stores in the U.S. and other countries “that could bring back these iconic brands in a new and re-imagined way.”
The reorganized company will control trademarks, e-commerce assets and data related to the Toys R Us and Babies R Us brands.
Toys R Us liquidated its U.S. business earlier this year, after filing for Chapter 11 reorganization following a leveraged buyout that hobbled the company.
Experts say the new company could turn a profit, but Toys R Us would need to find new locations as it sold or relinquished all of its stores in bankruptcy.
(© Copyright 2018 CBS Broadcasting Inc. All Rights Reserved. The Associated Press contributed to this report.)