Jerry Storch, a former CEO of bankrupt Toys R Us, is reportedly considering reviving the toy retailer and has been working with investors and bankers to stitch his plan together.

Bloomberg reported Monday afternoon that Storch has been working with Credit Suisse Group as a financial advisor, based on the news outlet's conversations with people familiar with the situation. Talks have also included Fairfax Financial Holdings, the investment firm that acquired the Canadian unit of Toys R Us, those sources told Bloomberg.

Storch declined CNBC's request for comment. Toys R Us, Credit Suisse and Fairfax didn't immediately respond to CNBC's requests for comment.

The news comes the same week that Toys R Us finishes shuttering all of its more than 800 U.S. locations. Liquidation sales have been in place for the past few months. Party City, meanwhile, is planning to open temporary Toy City stores ahead of this holiday season.