Toys ‘R’ Us Files for Bankruptcy, Crippled by Competition and Debt

Share it with your friends Like

Thanks! Share it with your friends!

Close

Toys ‘R’ Us Files for Bankruptcy, Crippled by Competition and Debt
In a statement on Monday night, Toys “R” Us said the filing would help the company invest in long-term growth
and “fuel its aspirations to bring play to kids everywhere and be a best friend to parents
Toys “R” Us, one of the world’s largest toy store chains, has filed for bankruptcy protection,
becoming the latest casualty of the pressures facing brick-and-mortar retailers.
The company made the Chapter 11 bankruptcy filing late Monday night in federal court in Richmond, Va., acknowledging
that it needed to revamp its long-term debt totaling more than $5 billion.
The private equity firms Kohlberg Kravis Roberts and Bain Capital, as well as the real estate firm
Vornado Realty Trust, purchased the company in a leveraged buyout for about $6 billion in 2005.

Comments

Write a comment

*