Remember how devastating it was just a few months ago when Toys 'R' Us filed for bankruptcy and shut all their doors in America? It was like a piece of our childhood had died and we could do nothing but sit and watch it happen.
No more biking through the aisles, no more seeing walls of Lego sets, and no more setting off all of the noisy toys at once before running away.
Sure, the employees hated us all, but it was a part of growing up, and it was sad to think that the children of the future wouldn't get to experience that same thing.
Well, it's only been a couple of months, but rumors are already swirling about the retailer, and we might have some good news!
Toys 'R' Us lenders have officially decided to cancel the bankruptcy auction that would sell off the intellectual property and branding rights to the company.
So Geoffrey the Giraffe needs to get back to work, because Toys 'R' Us may be coming back!
According to Bloomberg, the lenders that were required to seize control over the financially unstable company have decided to try and "reorganize the assets into a new company that will maintain the current license agreements."
What this means is that they can open up new retail businesses under the old name, hopefully with better organization to actually make some money.
Both Toys 'R' Us and Babies 'R' Us have their branding surrendered to their lenders, which means that everything will still be the same, however there is some concern that the major toy suppliers like Mattel and Hasbro will not return because they have already moved on with new suppliers.
Senior managing director of GlassRatner Advisory & Capital group Seth R. Freeman suggested that this new company could work because it wouldn't have the same overhead, but it's not without its risks.
“The company did generate operating profits -- and without debt, its profitability would be easier to maintain. Still, the timing of this move means the new company misses the critical holiday season, in which 34 percent of Toys ‘R’ Us merchandise is typically sold, giving it a tough three quarters of 2019 to slog through till holiday 2019.”
They will, however, have some new competitors in the market if they return, as KB Toys Inc is making a return with 1,000 pop-up stores, and Amazon is planning a holiday toy catalog.
While it's not easy to revive a brand like this, especially one that was so loved, there is a chance that the investors and new owners of the intellectual property could give it a shot.