Toys “R” Us is making a comeback—with a new look and direction.
The retailer, which filed for bankruptcy and shuttered stores after facing declining sales and increasing debt, is looking to breathe life back into its business. However, Geoffrey the Giraffe will be one of the few items that will carry over into the company’s new brand.
The Wall Street Journal reports that Toys R Us’ controlling lenders “intend to revive the business behind the Toys ‘R’ Us and Babies ‘R’ Us brand names.” The goal is to “create new, domestic, retail operating businesses” while maintaining its licensing of certain products worldwide, according to court documents filed Monday, as reported by the Journal. The company’s lenders decided to reverse the order after speaking to controlling parties and deciding the brand was too valuable to give up.