Woah, just when we thought "Where a Kid Can Be a Kid" was a thing of the past, we get news that Toys 'R Us is making a comeback! 

According to USA Today, Toys 'R Us has canceled a bankruptcy auction.

The auction would have sold off brand names, website domains, and their Geoffery the Giraffe mascot.

Instead, Toys 'R Us has proposed a reorganization plan that would allow the company to relaunch using those assets.

After closing more than 700 stores across the country, the company had hinted at a relaunch, saying there would be "a next chapter for Geoffery and the iconic Toys 'R Us brands."

In the new plan, Geoffery the mascot would make a comeback under a new wholesale store called Geoffery's Toy Box.

The company describes itself as a

Wholesale toy distributor and intellectual property company whose focus is on popular play patterns across trusted brands that kids and parents love

 

If the relaunch does indeed happen, no word yet on whether or not it will affect the former Meridian store or Idaho Falls store.