It’s official: Toys R Us will live on.

The iconic retailer’s debtholders are forming a new company, Geoffrey LLC that will control the Toys R Us and Babies R Us brands, including e-commerce assets and data associated with the brands, the debtors said late Tuesday night.

They also plan to open stores in the US and are working with partners “to bring back these iconic brands in a new way.”

The holding company will be controlled by the bankrupt company’s debtholders, including Solus Capital and Angela Gordon.

The group could not find a buyer during a five-month process led by Boston investment bank, Consensus.

Geoffrey LLC will also own the rights to the brands globally, except in Canada, which was bought earlier this year by Fairfax Financial Holdings.