The bankrupt retailer cancelled the planned auction of its Toys “R” Us and Babies “R” Us intellectual property and instead will move forward as a newly-established, independent U.S. business. The qualified bids it had received for the IP were not likely to yield a better return for the creditors than the reorganization plan it had filed last month, it said in a bankruptcy court filing. The plan consists of a sale of all the remaining assets of the parent company Geoffrey, LLC, which consist of trademarks, e-commerce assets and customer data, to a group of investors led by its existing ... Log in to view full article.