Toys R Us might not be dead after all. The once-dominant retail toy giant has canceled its planned intellectual property auction that would have tried to repay its creditors by selling off its branding and domains. Instead, the group of hedge funds that owns the company will attempt to resurrect the stores as “a newly-established, independent U.S. business,” according to a report from The Wall Street Journal.
It’s a surprising change of heart from the creditors who were prepared to shut down the company and sell it for parts just a few months ago. Apparently, the various hedge funds have concluded that bringing back the stores will be more valuable than whatever they could get from selling off the brand.
Toys R Us hasn’t said what the new iteration of the brand will look like, but it seems likely that whatever it has planned, it probably won’t be here in time for the lucrative holiday shopping season.