October 2, 2018 / 7:13 PM / 7 months ago

Toys 'R' Us lenders cancel auction, lenders plan to revive brand

Oct 2 (Reuters) - Toys ‘R’ Us has canceled the bankruptcy auction of its brand name and other intellectual property assets and instead plans to revive the Toys ‘R’ Us and Babies ‘R’ Us brand names, the court papers filed by the company’s lenders on Monday showed.

The bankrupt retailer, which is controlled by lenders, said it is planning to open a new Toys ‘R’ Us and Babies ‘R’ Us branding company that maintains its existing global license agreements and can invest and develop new retail shops under the two brand names.

Reporting by Soundarya J in Bengaluru; Editing by Arun Koyyur

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