Just ahead of Halloween, Toys R Us may be coming back from the dead.
Bankruptcy court filings obtained by on Wednesday showed the owners of the company's remaining assets are looking to revive the Toys R Us and Babies R Us brands after the beloved toy store filed for bankruptcy in September 2017. The decision comes just four months after Toys R Us shut down all of its U.S. stores for good.
According to the , the group, which is made up of secured lenders, determined they would get a bigger return on their investment by reviving the toy chain, rather than selling it off for parts.
The owners plan to "create new, domestic, retail operating businesses under the Toys R Us and Babies R Us names, as well as expand its international presence and further develop its private brands business," the court filings noted.
Joseph Anthony, CEO of the marketing and new media agency , spoke with GoodHousekeeping.com about what the revived Toys R Us might look like. And it will likely mean fewer stores than before, with an emphasis on online sales instead.
"I suspect that [their strategy] will be a multi-faceted model that will put a heavy emphasis on e-commerce, with brick-and-mortar stores utilized as fulfillment centers, versus the huge footprints that we were used to seeing in the past," Anthony says.
However, Anthony notes that it is a "uphill battle" for the toy store company since it will be faced with a lot of competition, especially online.
"Amazon, Walmart, and other retail platforms that incorporated a digital-first approach, have been able to seamlessly fill the void," Anthony explains. "If Toys R Us is going to make a comeback, they have to figure out a value proposition that their competition can't provide."
In March, Toys R Us announced it was liquidating its stores because it was billions of dollars in debt. Customers who grew up visiting the toy store were saddened by the news and immediately shared their reactions online.
But on Wednesday, the mood on social media was a lot different, with fans of the brands rejoicing in what could be the greatest comeback of all time.
But don't start celebrating just yet. Anthony adds that "consumers today have short term memories and even shorter amounts of brand loyalty," so it remains to be seen whether the hype will equal big bucks for Toys R Us.