Feb 24, 2018
UK arm of Toys R Us teeters on brink of collapse
The UK arm of Toys R Us is on the brink of collapse just two months after the chain won creditor backing for a sweeping restructuring plan to tame its unmanageable rent bill. On Friday company representatives informed officials at an industry-backed pension lifeboat that was poised to become one of the retailer's biggest creditors that a potential buyer had walked away, leaving their rescue efforts close to failure. The Pension Protection Fund emerged as a key participant in the Toys R Us crisis in December when officials there threatened to block a restructuring plan. The US company was taken private in 2005 by private equity buyers Bain Capital, KKR and Vornado Realty Trust. Toys R Us, the PPF and Moorfields declined or were unavailable to comment.
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