Bain Capital is Mittens Romney's operation ...
Posted on 09/16/2017 6:13:48 AM PDT by Zakeet
Toys 'R' Us is working to put together a loan to fund its operations in a potential bankruptcy filing that could come before the holiday sales season, according to people familiar with the matter.
[Snip]
The retailer had already said it was working with an investment bank to assess options for about $400 million in debt that comes due next year.
Buyout firms KKR & Co LP and Bain Capital LP, together with real estate investment trust Vornado Realty Trust, took Toys 'R' Us private for $6.6 billion in 2005. The deal saddled the company with debt, limiting its ability to revamp its stores and make online shopping easier.
(Excerpt) Read more at uk.reuters.com ...
Bain Capital is Mittens Romney's operation ...
LBOs are always high risk/high reward. Bain prob still came out *ok* - it’s debt holders that will get hosed.
It’s a concept that maybe is past its expiration date.
Back in the 80s the place was a reward to visit as a kid even if you didn’t get anything. The racks of pristine BMX bikes, the wall of action figure boxes you thought were 80 feet tall, and the “dream toys” behind the big glass case that you just stare at in awe.
Oh well...that’s the way it goes.
Slightly off-topic, but I always wondered why companies who’s very existence depends on a steady stream of children being born and raised in normal households do not staunchly push for family-friendly legislation (both state and federal).
You would think, for example, that companies who make diapers and baby/toddler clothes would come against abortion in a big way.
Seems that Toys are Us would fall into that category.
Does this mean you can no longer Borrow your way to Prosperity?? Maybe someone should inform Congress
Toys R Chinese.
Too much debt is stupid.
We stopped going there to purchase toys after parents used it as a free carnival for their kids. Feral youngsters careening around the aisles on bikes - opened boxes with toys left strewn on the floor - kids screaming and tearing around in the parking lot - not a friendly place for actual purchasers.
I assume that if the employees tried to maintain order, the parents would have blistered their ears.
Not to sound like a geezer, but kids didn’t do this when I was one myself.
Operationally, they are still quite profitable; they just can’t make enough money to pay the debt they are loaded up with. In the event of bankruptcy, the debt holders would take over the company, and either run it or sell it to someone.
Amazon and walmart strike again. I hate to see this brand go by the wayside but I guess it is progress.
Should have went direct online years ago.
“Slightly off-topic, but I always wondered why companies who’s very existence depends on a steady stream of children being born and raised in normal households do not staunchly push for family-friendly legislation (both state and federal).
You would think, for example, that companies who make diapers and baby/toddler clothes would come against abortion in a big way.Seems that Toys are Us would fall into that category.”
Very good points. When I saw that Toys R Us was in trouble, the first thing I thought was they went the target route: Genderless toys and bathrooms.
When I was a boy, Child World was the place to get toys. I remember those stores being spacious, shiny and clean. The store employees wore shirts and ties and would give you scowl if you even slightly misbehaved.
I'm not surprised Toys R Us is going belly up. I am surprised it took this long.
And also same-sex "marriage" and the rest of the homosexual agenda. A toy store in San Francisco or West Hollywood would be about as successful as a Honey-Baked Ham franchise in Riyadh.
Why didn't all those companies become victims of LBOs and what we used to call 'greenmail'?
Something fishy is going on.
...they have a huge warehouse within two miles of my location,...operates 24/7,constant trucking activities,(distribution center)
and loaded with illegals
I avoid places with wild kids and slack parents just standing around.
If me or my sister acted up like that, it would have been a one time thing.
Amazon and walmart strike again.
...
I think that’s more of a factor than the leveraged buyout.
“The store employees wore shirts and ties and would give you scowl if you even slightly misbehaved. “
My grandkids wouldn’t have the slightest idea what that means.
About 15 years ago I went to Filene’s pricey shoe department and said I wanted a black,high heeled pump and gave my size. The guy left,came back with about 8 boxes,dropped them on the floor,and said “Here,try these on” and he walked away.
I got up and walked away .
.
.
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