Monday, 29 December 2014
Last updated 6 min ago
Dec 15 2008 | 1:03am ET
Playing the role of Scrooge this holiday season is Prentice Capital Management: KB Toys, the retailer owned by the private equity firm, has filed for bankruptcy and will be liquidated.
KB, which runs 461 stores, will undergo an “expedited and orderly” bankruptcy liquidation, according to filings with U.S. Bankruptcy Court in Wilmington, Del. The company also plans going-out-of-business sales “to take advantage of the last two weeks of the holiday selling season.”
KB is some $200 million in debt, according to the filing.
Prentice, which owns 90% of KB, brought the company out of bankruptcy three years ago. Another p.e. firm, Bain Capital, owned the toystore chain at the time of its first bankruptcy in 2004.
Dec 1 2014 | 10:21am ET
As 2014 winds down, Northern Trust Hedge Fund Services executives took some time to share their outlook on trends facing the industry in 2015. Read more…
Jeff Sprecher was simply looking for a platform to trade energies when launching ICE 14 years ago but it has grown to reach the pinnacle of both the listed futures and equities world.