Toys “R” Us settlement wins court approval
The long, drawn-out saga of Toys “R” Us is nearing an end.
A bankruptcy court has approved a compromise among Toys “R” Us, its lenders, vendors and other creditors, according to Marketwatch.
Under the deal, the retailer’s vendors and other creditors will receive a cash payment of approximately 22 cents on the dollar with potential for higher recoveries, the report said. In return, the vendors and creditors will forgo their right to sue the group of lenders who ultimately decided to send the bankrupt Toys “R” Us from reorganization into liquidation.
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