Wednesday, 25 November 2015
Last updated 10 hours 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.
Oct 21 2015 | 10:41am ET
One of the most unique charity benefits in the hedge fund industry, A Leg To Stand On's (ALTSO's) Hedge Fund Rocktoberfest - NYC, raised nearly $500,000 last Thursday thanks to the generous support of major sponsors and nearly 1,400 attendees from the Tri-State finance, business and hedge fund communities. Read more…