The Toys 'R' US lenders who oversaw the company's liquidation earlier this year, are now working to resurrect the brand.
The company has canceled the planned auction of its intellectual property. Lenders are now attempting to reorganize company assets under a new company and maintain the current licensing agreements to invest in a new operating business.
The rights to the Toys 'R' Us and Babies 'R' Us names are currently under the control of a group of funds that financed the company during its bankruptcy filings. The IP served as collateral on the loans. Involved parties include Solus Alternative Asset Management and Angelo Gordon. As owners of the IP, receive royalty payments from its use internationally.