NATIONWIDE -- You might be able to call yourself a Toys 'R' Us kid once again.
- Toy "R" Us may be coming back
- Company's lenders plan to open new stores
- The toy chain closed all U.S. stores this year
The auction of the company's intellectual property and other assets has been canceled, according to documents filed Monday in U.S. Bankruptcy Court.
The retailer's lenders are now planning to launch "new, domestic, retail operating businesses under the Toys "R" Us and Babies "R" Us names."
They also plan to expand the company's international presence.
Toys "R" Us filed for Chapter 11 bankruptcy protection last fall, with plans to restructure the company. But faced with declining sales and mounting debt, the company announced in March that it would close all of its U.S. stores.
More than 31,000 employees lost their jobs.
In recent years, the company faced competition from retailers like Walmart, Target and Amazon.