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Toys R Us

Report: Toys 'R' Us may be on its way back


by Gerald Tracy

RICHMOND, Va., - According to court documents filed Monday, Geoffrey the Giraffe may have a job again if a group of hedge funds get their way.

The Wall Street Journal reports the group, the same one who pulled the plug on the toy store earlier this year, filed the papers.

In the papers, it said it received qualified bids for assets, including the brand names, Geoffrey and other assets. Instead, they want to attempt a comeback. The group said it has discussed its options with controlling parties, claiming the intellectual property of the company is a valuable piece in the lenders' collateral.

According to the WSJ, the toy industry has seen an $11 billion hole grow without a place for toys to be sold.

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