Toys 'R' Us, based in Wayne, New Jersey, announced the filing late Monday. It said it was voluntarily seeking relief through the U.S. Bankruptcy Court for the Eastern District of Virginia in Richmond, and that its Canadian subsidiary would be seeking similar protection through a Canadian cour...
Late Monday, Toys 'R' Us announced that it scrounged up $3 billion in bankruptcy financing, which it plans to use to restructure the company, alleviate its debt burden and revamp its stores. The bankruptcy filing comes just ahead of the holiday season, the busiest time for the year for...
Toys "R" Us used to dominate the American toy market. These days there is talk it may file for bankruptcy protection as it struggles against larger rivals such as Amazon.com, Walmart and Target. The retailer reportedly has hired the law firm Kirkland and Ellis as restructuring consultants to...
Toys R Us Bankruptcy Filing Sends Ripples of Trouble through Toy IndustryBhattarai, Abha
TOYS ‘R’ Us Inc could file for bankruptcy in the coming weeks as pressure from skittish suppliers intensifies, the Wall Street Journal reported, citing people familiar with the matter. The company and its restructuring advisers are considering filing for Chapter 11 protection in the US Bankruptc...
The timing of the Toys R Us’ Chapter 11 filing might come as a surprise, even to the people who study bankruptcy risk for a living. But it represents a dramatic turn in a long, slow-burning crisis for the retailer, which has undergone several turnaround attempts and restructured its debt...
Toys R Ushas filed for bankruptcy in the US and Canada, with the once mighty retailer having racked up $5 billion in debts before filing Chapter 11, marking a last-ditch effort to restructure its finances. The company is facing around $400 million in debt repayments that are due to be ...
News of a potential bankruptcy plan and a vendor squeeze come shortly after news broke that Toys R Us had hired law firm Kirkland & Ellis as an adviser on its $5 billion debt load as the company grapples with a string of maturities. CNBC reported at the time that a bankruptcy filin...
Meanwhile, the filing of Toys "R" Us' bankruptcy raised people's attention on what would be the future trend of retail industry. Online tycoons and offline retailers have been neck and neck for years, as each side tries to make its best to stay ahead of the other. ...
Toys R Us has hired restructuring lawyers at Kirkland & Ellis to help address the looming payments, the people said. Hiring a law firm like Kirkland is not indicative of a bankruptcy filing, and many companies work with law firms to successfully refinance or restructure their debt without filing...