Shortly after the founder of Toys ‘R’ Us passed away and the iconic toy chain broke all of our young hearts announcing bankruptcy and closing down all of their stores, we received word that the remaining lenders for the retailer still believe that the Toys ‘R’ Us brand is strong and can be revived.
In turn, they canceled the bankruptcy of all of the assets. The lenders can once again create brick and mortar stores with the names Toys ‘R’ Us and Babies ‘R’ Us, as well as go international if they see fit.
The stakeholders have also compiled enough money to create a $20 million fund to pay severance for the 33,000 people who were laid off from this matter. What does this mean for the brand? So far we are not sure what the plans will be after the bankruptcy cancellation, but this is a good sign that the beloved brand can make a legitimate comeback. Hopefully, they learn from their mistakes and can adapt to the current market to be as successful as they were in the 90’s/early 2000s.
Justin is a content creator, amateur journalist, and in charge of the day to day operations of Gaming Iluminaughty. I love music and games almost equally. Check me out on all your social media for more thoughts.