As Hasbro are most likely one of the creditors the plan to relaunch the company rather than auction of the IP will almost certainly have their backing already. In which case Ive no doubt Hasbro will use them.
Im honestly not sure how I feel about the news. The employees are gone, their pensions etc gone/short changed. The too large and too expensive to maintain stores have been sold off or leases cut short and now sudenly the creditors want to "save" the company. Im sure the US business could have been saved without hurting so many people first. TRU Canada managed it.
So TRU has been saved in the US - should Hasbro use them? They still owe Hasbro a DW level of money don't they?
The old company owed Hasbro money - but the old company didn't _have_ that money. Hence why the creditors - Hasbro included - were looking to sell the trading names, as they are the only thing that can be sold to raise any money toward the settlement of those debts.
Any new company purchasing the name would be a separate legal entity, not liable for the previous owner of the names debts. Essentially the debt is owed by a company which no longer exists, and its debts - once what is left of its assets are sold - die with it. They don't get passed to any other company which might happen to purchase the name and branding.
My local Toys R Us had been (partially) converted to a Smyths as I passed today
It was a bit weird, the staff were still wearing TRU uniforms, but Smyths logos had been hastily put up over TRU logos and it was really quiet (I am so used to hearing the Toys R Us jingle playing there that its absence was eerie).
I had kind of hoped that they'd maintain the brand but really, there's no reason to expect that. Smyths somehow looks ... cheaper ...