"Geoffrey, LLC, Toys “R” Us, Inc.’s intellectual property holding company subsidiary, announced today that it is moving forward with a plan for substantially all of its assets to be acquired by a group of investors led by Geoffrey, LLC’s existing secured lenders.
The announcement was made following a five month marketing effort by Boston-based Consensus, an investment bank retained to market the assets of Geoffrey, LLC, that resulted in several formal and informal proposals to acquire the intellectual property assets. After considering such proposals, it was determined that the proposal from the existing term lenders was meaningfully higher and better than any other global bid or the sum of the bids received on individual assets. The transition of the business to its new owners is pending approval of the United States Bankruptcy Court and all major creditor constituencies are supportive. Geoffrey, LLC thanks all parties that participated in discussions with the company over the prior months, particularly those that submitted proposals, for their thoughtful and diligent engagement.
Geoffrey, LLC, as reorganized, will control a portfolio of intellectual property that includes trademarks, ecommerce assets and data associated with the Toys “R” Us and Babies “R” Us businesses in the United States and all over the world, including a portfolio of over 20 well-known toy and baby brands such as Imaginarium, Koala Baby, Fastlane and Journey Girls. The reorganized company will own rights to the Toys “R” Us and Babies “R” Us brands in all markets globally, with the exception of Canada. It will also become the licensor of the brands to the company’s existing network of franchisees operating in countries across Asia, Europe and the Middle East, and in South Africa.
In addition to continuing to service these markets, the new owners are actively working with potential partners to develop ideas for new Toys “R” Us and Babies “R” Us stores in the United States and abroad that could bring back these iconic brands in a new and re-imagined way. Geoffrey LLC will provide additional detail on this front as it becomes available."
"Wholesale toy distributor and intellectual property company whose focus is on popular play patterns across trusted brands that kids and parents love. Geoffrey's Toy Box is a fully outfitted organization with design, development and global sourcing expertise. Portfolio includes popular brands like Journey Girls, Fastlane, True Heroes, You & Me, Imaginarium, Just like Home and more!
This makes a lot of sense. The owners say the brand is to valuable to let go and then they rebrand
Good for them, I guess, I wasn't one of those that had an emotional childhood attachment to Toys R US and towards the end there I basically all but stopped shopping in them but I do feel sorry for the employees that were left jobless due to the closure of the stores. I hope that most of the are able to find work in the new stores, doubtful I know but still....
I hope they do well, but Im afraid, the market is moving to online retailers Big box stores are starting to move towards mass products that sell a lot instead of smaller lines of more collectible items
I just dont see the case, to me it all seems like a desperate cashgrab on the part of the investors/directors just to try and get as much money off the name of the brand before they shut off for good (Isee it as the higher ups thought you know what, our brand name is still worth something why not use it while we can during this holliday season and then once we have gotten as much money out of it forget about it again), dont get me wrong I wasnt happy to see Toys R' Us go out of business but its these kind of practices and badly thought out plans that made them go bankrupt in the first place, I dont have much faith in this"return".
20 hours ago, GojiBill said:Truly hope it works out for them, hate to see them make the same mistakes all over again.
They will though. I used to work for them, and corporate is filled with absolute morons who don't know what they're doing.
Hmm seems like they are taking the Spirit of Halloween costume stores and taking over open stores for a few months (if I am understanding this correctly). Not bad I guess if it gets a big box toy store out there even if it's just for the holidays. Would still love to see TRU come back. I can't imagine a whole generation of kids growing up and never being able to walk into a TRU.
I know that PixelDan will be very happy. The toy industry has changed a lot these few years. With online retailers expanding and people having less time to enjoy shopping on stores and taking their kids with them. Electronic games also had a huge impact on that front.
In my country we don't have lots of stores. Only two major brands that are actually the same company. People still enjoy going there, but I see them getting emptier by the day.
Toys R Us is an international brand well know in the whole world. See it dying was very sad. This model of store actually inspired the ones we have here.
I hope it works out. Even if not for us collectors, the experience of entering a toy story with your family, see your kids playing with the toys and stuff is something that we cannot let die. A moment that can be fun and in the future turn into nice memories. I still remember to this day entering in these stores with my mom in my birthday to pick my gift or even going to them occasionally and just buying some board games or Gi Joes.
Writing this I am remembering that emotinal video that PixelDan did. Don't know if you guys have watched it.
I don't really see why they had to change the name, this sounds more like a small chain that sells educational toys or something. Considering with how many people were devastated by the store closing you would think that they would keep the name because it meant something.
Truly hope it works out for them, hate to see them make the same mistakes all over again.
Their intended plans of opening shops within a shop sounds somewhat interesting, from the outset... But yea, Im going to be really curious to see just how lucrative in the long run thisll be for them. Considering the competition Walmart, Amazon and other such toy retailers are going to represent for them, these days.
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