https://www.cnet.com/news/toys-r-us-may-not-be-dead-after-all/

The hedge fund group said it received qualified bids for the toy retailer's assets, which include the Toys R Us and Babies R Us brands its registry lists, website domains and even the Toys R Us mascot, Geoffrey the Giraffe.  But the lenders determined that the bids didn't "yield a superior alternative to the plan," and that stakeholders would see a greater benefit in maintaining the brands "under a newly established, independent US business," the Journal reported.

Six months after filing for bankruptcy protection in the US, and one month after a similar collapse in the UK, Toys R Us announced in March its intention to shut down each of its nearly 900 stores in both the US and UK.