Five years ago, Toys "R" Us was such a crummy business that its board simply gave up, selling the company to a group of buyout shops for $6.6bn (€5.5bn). In one of its parting filings as a public company, Toys advised shareholders to sell because its prospects "have been adversely impacted by significant developments in the retail toy industry."

Toys "R" Us is now headed back to the public markets, last week filing paperwork to raise $800m in an IPO. This time, its owners -- including Kohlberg Kravis Roberts and Bain Capital -- have a different attitude: "We operate in an attractive industry that has proven to be resilient due to the demand for toys," said the filing.