Well it looks like Geoffrey the Giraffe may get a new lease on life thanks to investors who purchased Toys R Us’ assets. The retail company has cancelled its bankruptcy auction, and will soon launch a wholesale operation called Geoffrey’s Toy Box. Executives are continuing to work out of the Toys R Us headquarters in Wayne, New Jersey. Long Island based hedge-fund manager and former Trump administration official Anthony Scaramucci is an investor in Toys R Us’ debt, and wants laid-off employees to be given a severance package. Question is, will Geoffrey’s Toy Box be able to compete with the likes of Amazon,Target, and Walmart? And, would you go back to Geoffrey’s Toy Box to shop?
(Source-Wall St. Journal)
