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Toys ‘R’ Us could go Bankrupt Within Weeks

Toys ‘R’ Us could go Bankrupt Within Weeks

Toys “R” Us could file for Chapter 11 bankruptcy within weeks as the global toy giant struggles with around $5bn (£3.6bn) of debt, $400m of which reportedly comes due next year.  The toy retailer has maintained high debt positions since KKR, Bain Capital and Vornado Realty Trust took it private for $6.6bn in 2005.
” Toys “R” Us could file for Chapter 11 bankruptcy within weeks with around $5 billion of Debts “

In the United States, Chapter 11 allow companies to stay operational as they reorganise and pay their creditors.  Previously, Toys R Us had hired restructuring lawyers at Kirkland & Ellis to help refinance the $400 million debt.

 

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About Toys “R” Us

Toys“R”Us, Inc. is relentlessly striving to be the best toy and baby retail company for the world. It has solidified its position by offering a differentiated shopping experience through its family of brands. Today, merchandise is sold in 875 Toys“R”Us and Babies“R”Us stores in the United States, Puerto Rico and Guam, and in more than 765 international stores and more than 245 licensed stores in 37 countries and jurisdictions. With e-commerce sites including Toysrus.com and Babiesrus.com, the company provides shoppers with a broad online selection. In addition, the company is committed to serving its communities as a caring and reputable neighbor.

Visit: Toys “R” Us

 


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