[ad_1]
Toymaker Hasbro has not met Wall Street's expectations in the first quarter, the bankruptcy of Toys' R & # 39; They caused a loss of income of nearly $ 100 million. Aleksandra Michalska reports.
Newslook
Last Saturday at Toys R Us store in Paramus, NJ. (Photo: Marko Georgiev / NorthJersey.com)
The bankrupt retail giant, Toys R Us, set the stage for a possible return by canceling a bankruptcy auction, The Wall Street Journal reported Tuesday.
This auction was to sell intellectual properties such as brand names, website domains and the famous mascot Geoffrey the Giraffe. But a proposed reorganization plan would instead enable the company to relaunch a retail business using these assets, according to publication reports, citing court documents.
Earlier this year, the toy hypermarket closed its retail outlets, affecting more than 700 stores and tens of thousands of jobs.
At the time, Toys R Us had hinted that its presence in the retail trade could return, stating on social media that there would be "a next chapter for Geoffrey and the iconic brands of Toys R Us." ".
According to court documents cited by the magazine, there was a market for the sale of Toys R Us's intellectual property, but such a sale "was not reasonably likely to constitute a superior alternative" to a plan filed in September .
This plan "envisions a new Play branded" R "Us and Babies" R "Us brand company that maintains existing global licensing agreements and can invest in and build new national retail businesses. Toys "R" Us and Babies "R Us Us Names. "
More: Who are the winners and losers after the fall of Toys R Us? Walmart, Amazon and Mattel until now
Related: Amazon may publish a toy catalog, a vacation tradition to win after the bankruptcy of Toys R Us
Read or share this story: https://www.usatoday.com/story/money/2018/10/02/toys-r-us-might-staging-comeback-report-says/1506876002/
Source link
