Former Toys R Us CEO working on deal to save toy store chain

(WSVN) - Toys ‘R’ Us might have a white knight after all.

The chain’s former chief executive from five years ago is eyeing a deal that could save some stores, distribution centers and the Toys ‘R’ Us trademarks — as well as thousands of jobs.

The New York Post is reporting that Gerald Storch is in talks with several venture groups that are considering buying the remaining parts of the retailer and bringing him on to the management team.

But the clock is ticking.

The linchpin of such a deal is the Toys ‘R’ Us portfolio of intellectual property assets, including its Babies ‘R’ Us name, domains and other trademarks associated with the 70-year-old company.

Those trademarks will be sold at an auction scheduled for June 18. So far, approximately 150 Toys ‘R’ Us stores have been sold at auction, and the sale of another 150 stores is scheduled for June 11.

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