Private Equity Firm’s Toy Store Goes Under

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.


In Depth

MiFID2 For U.S. Firms: Key Questions Answered

Feb 27 2017 | 4:54pm ET

The January 2018 deadline for implementation of the EU’s mammoth MiFID2 regulations...

Lifestyle

'Tis the Season: Wall Street Holiday Parties Back In Fashion

Dec 22 2016 | 9:23pm ET

Spending on Wall Street holiday parties has largely returned to pre-2008 levels...

Guest Contributor

iCapital Network: The Trump Effect On Direct Lending

Feb 23 2017 | 4:21pm ET

The arrival of the Trump Administration has raised questions among private debt...

 

From the current issue of