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Final Saturday at Toys R Us in Paramus, NJ
Marko Georgiev / NorthJersey.com, Marko Georgiev / NorthJersey.com
Geoffrey has been the official Toys "R" Us mascot for almost 50 years.(Photo: Courtesy of Toys R Us, Courtesy of Toys R Us)
R Return Toys?
Not quite, but the first signs of how the financial companies that divided Toy R Us are planning to resurrect the iconic brand of ashes from bankruptcy and liquidation began to emerge.
The lenders, who own a centerpiece of the former Toys R Us, revealed that they retained the brands and intellectual properties of the company, including Geoffrey, the brand's giraffe mascot. , and returned to the toy business with a wholesale company called Geoffrey's Toy Box.
For now, this new venture is operating from the Toys R Us headquarters in Wayne, where a small number of former executives and employees of Toys R Us continue to work.
Played a role in stopping
Geoffrey, LLC, a subsidiary of Toys R Us that owns the intellectual property rights of the company and is controlled by groups of lenders who financed the bankruptcy and who were criticized for their role in closing the company. market. he is working on a plan that could redesign the US "new stores Toys R Us and Babies R Us", redesigned.
The rise and fall of Toys R Us
Geoffrey's toy box is also being introduced to manufacturers and toy vendors Tuesday at the opening of the Toy Fair in Dallas, with an exhibition booth. The company describes itself in the show's brochure as "a wholesale toy distributor and an intellectual property company that focuses on popular game models among the trusted brands that kids and parents love."
James Zahn, toy critic and publisher of The Rock Father magazine, reported on Tuesday that a costumed Geoffrey mascot was wandering the alleys of the Dallas toy show wearing a cloak with the words "Back From Vacation", with a sign announcing the Geoffrey Toy Box stand. .
Zahn also noted that the Toys R Us Twitter account had recently been cleaned up and that all references to the liquidation had been removed.
Shop partnerships
The Toys R Us store on Route 4 in Paramus. (Photo: Joan Verdon / northjersey.com)
The trade publication The Toy Book reported Tuesday night that Richard Barry, formerly Toys R Us' derivatives manager, said the new company was exploring "store-to-store" partnerships with major retailers. Barry's business card now bears Geoffrey's Toy Box logo.
Toys R Us has chosen to close all its stores after the lenders supporting the bankruptcy financing report that they have lost confidence in the company's reorganization plan. All stores closed at the end of June.
In a document filed on Monday, the group of lenders told the bankruptcy court that it had canceled an auction for trademarks and intellectual properties scheduled for Thursday. The group also stated that, although he had received offers to purchase for the properties, he felt that the maintenance of property rights and the launch of a brand promotion company and Any eventual retail activity would generate greater financial returns.
The group told the bankruptcy court that it was considering creating "a new branded Toys company" R "Us and Babies" R "Us that would maintain existing global licensing agreements and could invest in new domestic companies. retail and create new businesses under the brand name Toys "R". "Us and Babies" R "Us, as well as expand its international presence and expand its private label business."
Bloomberg News reported Tuesday that the Geoffrey LLC group included Solus Alternative Asset Management funds and Angelo Gordon. Trademarks and intellectual property rights were used as collateral to secure loans secured by the group of lenders.
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Workers' protests
Workers' groups have blamed Solus and Angelo Gordon for not contributing to a fund for dismissed employees of Toys R Us. Workers appeared before the New Jersey State Investment Council last week to urge the state to withdraw its investment from $ 300 million from Solus.
Geoffrey LLC owns rights to more than 20 Toys R Us toy and baby brands sold as part of its private label products, including Imaginarium, Koala Baby, Fastlane and Journey Girls. He could continue to supply these products wholesale.
She also owns the rights to the Toys R Us and Babies R Us names in all countries, except Canada, as well as to the gift and baby records maintained by the former corporation.
The plan of Geoffrey LLC is subject to the final approval of the bankruptcy court.
Read or share this story: https://www.northjersey.com/story/money/2018/10/03/toys-r-us-comeback-new-name-same-geoffrey/1507052002/
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