Reports have emerged of a possible Toys R Us reboot in the US with former CEO Jerry Storch linked to a revival plan.
According to people close to the situation, Storch has been working with multiple investors on a plan to reboot the retailer in the US with Credit Suissee Group AG being used as the financial advisor.
Discussions have included Fairfax Financial Holdings, the investment firm that acquired the Canadian unit of Toys R Us.
Reported by both Bloomberg and CNBC, its suggested that Storch’s group would have to win a bankruptcy auction for the chain’s intellectual property in one month’s time. The real estate portfolio is being sold separately, while competition for its brands, including Babies R Us is expected.
Representatives for Fairfax, Toys R Us and Storch have declined to comment but it is said that Storch has recruited other former Toys R Us executives to the effort.
His plans centre on having several hundred stores that house both toy and baby brands under one roof.