Toys R Us announced bankruptcy earlier in 2018 and said they would sell off their intellectual properties. That auction just recently finished up and after seeing the bids, the company announced that it was “not reasonably likely to yield a superior alternative”.
Their new strategy proposed will be to reorganize the company and relaunch as a retail business using the assets they originally planned to sell off. It is expected that if they open up, the chain will be smaller than their previous model stores.
Back in June, when some of the last businesses were being shut down, their social media post on Facebook hinted that there would be a “new chapter for Geoffrey”. While it may not be directly related to the proposed relaunch, to some it may look planned from the start and used bankruptcy as an excuse to downsize quicker.