Toys “R” Us intellectual assets reportedly generate lots of interest
As Toys “R” Us continues to liquidate its U.S. stores, it appears likely that some part of it will live on.
The bankrupt retailer is looking to sell its intellectual property, which according to court documents have generated a lot of interest, reported the New York Business Journal.
The portfolio, which includes the Toys “R” Us, Babies “R” Us and Geoffrey character trademarks, has more than 115 potential bidders, and there has been “substantive communication with over 85 such parties,” the report said.
In light of all the interest, the auction date to sell its U.S. intellectual property has been pushed back to Aug. 6.
To read more, click here.
NRF calls latest tariff threat ‘reckless escalation’
The National Retail Federation is asking the U.S. Congress to intervene in the escalating tariff dispute with China.
The association called for intervention following the news that the Trump Administration is considering tariffs on an additional $200 billion in Chinese goods if China does not yield to U.S. demands. The move is seen as retaliation for China’s decision to raise tariffs on $50 billion in U.S. goods, which followed the the similar tariffs on Chinese goods announced by the White House on Friday.
“This is just what we predicted – a tit-for-tat trade war has erupted and American families are caught in the middle,” Matthew Shay, president and CEO, NRF. “This reckless escalation is the latest reminder that Congress must step in and exert its authority on trade policy.”
A study conducted earlier this year for NRF and the Consumer Technology Association found that tariffs on $50 billion of Chinese imports, as announced last week, would reduce U.S. gross domestic product by nearly $3 billion and lead to the loss of 134,000 American jobs, with four jobs lost for every job gained.
Imposing tariffs on an additional $100 billion of Chinese imports would bring the total impact to a $49 billion reduction in GDP and the loss of 455,000 jobs, according to the NRF.
GameStop in talks about possible sale
GameStop Corp. has confirmed it is exploring a possible sale.
The video game retailer said Tuesday that it is in “exploratory discussions” with third parties regarding a potential transaction. The announcement comes after Reuters reported that GameStop was in talks with private equity firms after receiving buyout interest and had hired a financial advisor to assist in its discussions.
“There can be no assurance any agreement will result from these discussions,” the retailer stated. “GameStop does not intend to make any additional comments regarding these discussions unless and until it is appropriate to do so.”
GameStop’s core business has been challenged in recent years with increased competition from Amazon and other online marketers. It also has faced a decline in game sales as video gaming has increasingly moved to the digital realm.
In addition to holding discussions about a potential same, GameStop is also on the hunt for a new chief executive to replace Michael Mauler, who resigned in May after only three months on the job. (Board member and GameStop co-founder Daniel DeMatteo is serving as interim CEO.)
GameStop operates over 7,200 stores across 14 countries.