The Toys R Us name will live on in some form or fashion, but where it will end up, how it will be used, and who will own it is up in the air. The entire brand is being put up for auction in an attempt to pay back creditors. Reuters reports that the auction itself will take place in June, with the company looking to shed everything that’s ever been associated with Toys R Us. Included will be the iconic logos, the Babies R Us brand, Geoffrey the Giraffe, and numerous domains registered by Toys R Us over the years. Included in the domain list are numerous parody domains, as well as those with a more adult bend to them. These were registered in an attempt to prevent brand hijacking by other companies or individuals. At this time, there don’t appear to be any guesses or estimates on the target price for the assets.
The news comes just as the CEO and additional executives have officially exited the company. It’s a move that is considered unusual at this stage in liquidation, as it is normal practice for the top level execs to stay on until the end of the process. Toy News Online reports that financial targets were not met, and the CEO and other executives were denied court approved bonuses. Along with the executives, who oversaw the downfall of the largest toy retailer in the world, most of the companies employees will also be leaving. According to Retail Dive, only a few hundred employees are set to stay on for the remainder of the liquidation process.