Deals
Bain, KKR, Vornado Suffer Wipeout in Toys ‘R’ Us Bankruptcy
- Firms sank $1.3B into takeover during wave of buyouts
- They pocketed more than $470M in fees from toy seller
Toys 'R' Us Seeks Bankruptcy as Debt Mounts
This article is for subscribers only.
Bain Capital, KKR & Co. and Vornado Realty Trust stand to have their Toys “R” Us Inc. investment erased as the retailer they bought in 2005 for $7.5 billion seeks bankruptcy protection.
The three firms and their co-investors sank $1.3 billion of equity into the takeover of the Wayne, New Jersey-based toy company, financing the rest with debt, according to company filings. The debt included senior loans in which they held a stake.