(Reuters) – The top lenders of Toys ‘R’ Us have decided to cancel the bankruptcy auction of its brand name and other intellectual property assets and instead plan to revive the Toys ‘R’ Us and Babies ‘R’ Us brand names, a court filing on Monday showed.
The bankrupt retailer’s debtors aim to open a new Toys ‘R’ Us and Babies ‘R’ Us branding company that maintains existing global license agreements and can invest and develop new retail shops.
The lenders also plan to expand its international presence and further develop its private brands business.
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