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10-10-2018, 07:45 PM | #41 |
Bill Cosplay
Join Date: Feb 2014
Location: Staying clear of knee-jerk nerds.
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IIRC, Bain bought them in 2000 and ran them straight into their first bankruptcy in 2003 or 04, but I don't know/remember enough of the details to know if they bought them leveraged or not. I do remember the purchase price was "only" around, like, $300 million though. After that first bankruptcy, Prentice Capital emerged in charge of KB, but they were basically controlled by Bain. Four or five years later, KB declared bankruptcy again and went out of business for good. Sad thing is, a similar outline can be told about the final years of countless now defunct retailers.
Last edited by SmokeBellew; 10-10-2018 at 07:54 PM.. |
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10-10-2018, 07:54 PM | #42 |
Bill Cosplay
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JJ, I don’t agree with your assessment. TRU didn’t go to the bank for a loan to help their suffering business and the business just didn’t pick up. Bain took the loan using TRU as equity then bled TRU dry more than likely using the borrowed money to buy other businesses to eventually destroy, saddling TRU with the interest.
It would be like buying a new home while keeping your old home, taking out an equity loan on the old home that you plan on abandoning and using the new money to improve your new home. Then allowing your old home to go into foreclosure when you don’t repay the equity loan. SmokeBellew and BenjamainXavier please correct that analogy if I’m wrong. I only dabble in finance as a hobby and have no MBA. |
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10-10-2018, 11:17 PM | #43 |
Iron Grenadier
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“Hi, Hasbro, Mattel, it’s us, the guys who forced bankruptcy on TRU so we could get our money but left you out the 10’s to 100’s of millions we owed you. Have you heard, we are reopening the stores again. Can we get some toys?”
I wonder how that is going to work out for them? |
10-10-2018, 11:56 PM | #44 |
Bill Cosplay
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“Hi, Hasbro, Mattel, it’s us, the guys who forced bankruptcy on TRU so we could get our money but left you out the 10’s to 100’s of millions we owed you. Have you heard, we are reopening the stores again. Can we get some toys?”
I wonder how that is going to work out for them? |
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10-11-2018, 02:09 AM | #45 |
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10-11-2018, 07:24 AM | #46 |
Hisstank.Com General
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Visit my vintage Joe restoration page! https://www.flickr.com/photos/131988164@N07/albums Cross Country's super smooth feedback thread. http://www.hisstank.com/forum/buy-se...ml#post4456308 Currently available Hasbro items. PM me for your prices (DO NOT be discouraged by the listing prices) https://www.ebay.com/sch/i.html?_dkr...nirtoys&_oac=1 |
10-11-2018, 03:23 PM | #47 |
Iron Grenadier
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10-11-2018, 03:33 PM | #48 |
Poacher Assassin
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Good for him. While I was initially happy to hear of the giraffe’s return I’m growing more cynical by the day. Let this be a precedent that others will follow. As mentioned earlier if this is the same ilk who still owe Mattel and Hasbro some loot I’m sure they will be happy to follow suit. If it was a new owner I could see them eating the loss for potential future gains but if it’s the same folks that ran this ship into the ground last time why risk it?
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10-11-2018, 03:34 PM | #49 |
Iron Grenadier
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haha I was wondering that too. Don't forget to add MGA to that list. They're the company that tried to buy TRU and save it, but were basically told to get steppin'. They're only the makers of the current hottest toy-line (LOL Suprise), headed up by the toy guru who created Bratz. And then there's LEGO, who also got a bit fucked. Not to mention all the smaller vendors...yep, I'd tell 'em to suck it as I cut Amazon, Walmart and Target an even better deal.
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10-11-2018, 03:36 PM | #50 |
Iron Grenadier
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I don’t think so. We aren’t talking about the volume of a 600 store chain, we are talking about small pop up shops. He is better served working with other retailer’s toy expansion plans than supporting a competitor to his existing customers which also screwed him over.
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