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09-19-2017, 06:50 AM | #101 |
Cobra Lab Rat
Join Date: Sep 2013
Location: California
Posts: 3,042
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Oh.. wow. Apparently Toys R Us has a REALLY REALLY massive debt from a leveraged buyout from some stock companies who bought it in 2005. Toys R Us couldn't pay if off when it's terms of repayment came up this year, and it's currently sitting at 7.5 billion or something ridiculous.
--Original source Page not found | Investopedia Article except: Back in 2005, KKR & Co. LP, Bain Capital and Vornado Realty Trust combined for a $6.6 billion leveraged buyout, or an acquisition of a company using a significant amount of debt. Shares were bought for $26.74 each, marking a multiyear high at the time. Shares were bought out for much lower than their all-time high near $45 back in 1993. |
09-19-2017, 07:23 AM | #102 |
Hisstank.Com General
Join Date: Jun 2008
Location: PA
Posts: 10,816
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How much profit have they been taking in per year though? Would they be in good shape if not for the old debt?
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09-19-2017, 08:13 AM | #103 |
A Makeupless Clown
Join Date: Sep 2015
Location: Ohio
Posts: 5,266
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TRU is privately held, so we won't know unless/until they choose to make that public. I don't see any reason why they would do that, though. We'll probably never know.
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09-19-2017, 09:24 AM | #104 |
I just want foam gliders.
Join Date: Sep 2007
Location: Tooele (two-willa), Utah
Posts: 18,727
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Like I said before, I worked at a place that filed for bankruptcy, it was a move to keep the creditors and banks and whomever else they owed from taking control. It worked too.
Sometimes it can be a smart move.
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09-19-2017, 09:38 AM | #105 |
Crimson Guard
Join Date: Nov 2007
Posts: 2,455
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It *can* be a smart move; but being in the position where declaring bankruptcy usually means you've made a series of stupid moves because you're a stupid executive; and you'll probably continue to make stupid moves after the single smart move.
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09-19-2017, 09:57 AM | #106 |
Crimson Guard
Join Date: Sep 2016
Location: Houston
Posts: 2,449
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Well maybe upcoming Star Wars and Marvel films will help them out this Christmas season. I'd really hate to see them go.
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09-19-2017, 10:00 AM | #107 |
Cobra Pimp and Hustler
Join Date: Mar 2012
Location: Springfield
Posts: 6,139
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Quote:
Regardless, even if TRU stays in the game (I'll be heartbroken if they don't), we're going to see some changes, such as store closures and whatnot. I doubt the one by me will close, as it's in a super-major shopping district and is always mobbed, but we'll see.
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09-19-2017, 10:38 AM | #108 |
Crimson Guard
Join Date: Nov 2007
Posts: 2,455
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09-19-2017, 11:27 AM | #109 |
Hisstank.Com General
Join Date: Jun 2009
Location: Secret underground complex
Posts: 7,023
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I just read that it is official. TRU is going through bankruptcy.
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09-19-2017, 11:30 AM | #110 |
Crimson Guard
Join Date: Nov 2007
Location: Kansas City
Posts: 1,471
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Guess I will go pick up a U53 helicopter while I can find it. Who knows what will happen with their suppliers and creditors into this christmas season.
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