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  #101  
Old 7th October 2018, 05:47 PM
reillyd reillyd is offline
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It looks like it will be renamed Geoffrey's toy box, and some past employees (management I guess, not retail workers) are still reporting for duty, so hopefully there will be SOME loyalty and they hire back old staff if still available

More details on https://www.seibertron.com/transform...cy-plan/42190/
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  #102  
Old 11th October 2018, 10:55 PM
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Another official announcement, noting that it is still requiring approval by the Bankruptcy court, but if it is, the new entity will be looking to open stores again in America, and around the world (which could include here).
A shame it comes four months too late for the Australian branch, as this sort of development might have made it more inviting for potential buyers who needed more assurity of parent company support (including the parties who were already making bids, but withdrew later).


Quote:
Geoffrey, LLCs Assets to Be Acquired by Its Secured Lenders

WAYNE, NJ October 2, 2018 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, LLCs 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 companys 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.
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  #103  
Old 11th October 2018, 11:18 PM
CaminusPrime CaminusPrime is offline
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Quote:
Originally Posted by griffin View Post
Another official announcement, noting that it is still requiring approval by the Bankruptcy court, but if it is, the new entity will be looking to open stores again in America, and around the world (which could include here).
A shame it comes four months too late for the Australian branch, as this sort of development might have made it more inviting for potential buyers who needed more assurity of parent company support (including the parties who were already making bids, but withdrew later).
If this is approved I don't think its going to be too hard to kick start the Australian branch back into gear. The store i worked in closed down on the 5th of august just over 2 months ago and it hasn't been touched since, all the logos and everything are still up on the building, hell much of the old equipment is still all there.
Naturally I'd be happy if there's a reopening and I can potentially get my job back as myself and many others are yet to find new work. If this is passed hopefully something comes up soon.
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  #104  
Old 11th October 2018, 11:40 PM
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The Garden City store has been completely gutted, and walls have been knocked down (of the two stores next to it that also closed up at about the same time) for something huge at that end of the shopping centre.





That pillar in the foreground to the left was where the front service counter was, while the pillars to the right were the dividing wall between TRU and the Library.
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  #105  
Old 11th October 2018, 11:45 PM
CaminusPrime CaminusPrime is offline
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Quote:
Originally Posted by griffin View Post
The Garden City store has been completely gutted, and walls have been knocked down (of the two stores next to it that also closed up at about the same time) for something huge at that end of the shopping centre.

That pillar in the foreground to the left was where the front service counter was, while the pillars to the right were the dividing wall between TRU and the Library.
Can only imagine what will be there next, What a huge space.
I wonder how many have already been cleared out or just left alone at this point.
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  #106  
Old 12th October 2018, 03:45 AM
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The werribee plaza store here in vic was bought by toyworld which seemingly bought all the fixtures and even employed most of the staff (although the number in active service has declined, you won't see all those registers opened), I wonder what had happened to the highpoint store space?

Whatever the case the move to bring it back like this is truly a kick in the teeth and I hope the staff affected have gotten better jobs after the initial closure, dick move by those in charge as per usual
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  #107  
Old 12th October 2018, 09:28 AM
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Stores inside a westfield or large shopping centre would be quickly filled. Stand alone stores would more likely remain vacant for a while... as in America, as most TRU stores were free standing... probably to be more visible to passing traffic.
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  #108  
Old 12th October 2018, 12:32 PM
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SMHFConvoy SMHFConvoy is offline
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Quote:
Originally Posted by griffin View Post
Stores inside a westfield or large shopping centre would be quickly filled. Stand alone stores would more likely remain vacant for a while... as in America, as most TRU stores were free standing... probably to be more visible to passing traffic.
Toymate is opening this weekend at the old Bankstown TRU location.
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