Toys “R” Us Explores Possible Bankruptcy Filing

toys-r-us-logoAccording to multiple sources, Toys “R” Us has hired lawyers at Kirkland & Ellis to help restructure its roughly $400 million in debt due in 2018. Sources say the retailer’s options include potentially filing for bankruptcy protection.

The company has already announced it is working with Lazard to help address its debt load, and it successfully refinanced some of its debt just a year ago.

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MEGA Brands Seeks U.S. Bankruptcy Court Protection

According to Reuters, MEGA Brands has filed a Chapter 15 proceeding in a U.S. bankruptcy court in Delaware, clearing the way for a key recapitalization vote next month. The Montreal-based company said on Friday that it had started proceedings in Canada on February 12 to implement a restructuring that would cut its debt by about $290 million and annual interest expenses by about $30 million.

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