The Toy Association issued a second Member Bulletin to manufacturer members on Tuesday notifying them of the latest updates and filings related to the Toy “R” Us bankruptcy proceedings.
The bulletin details:
- A motion filed by the Official Committee of Unsecured Creditors to establish certain information sharing procedures in accordance with the committee’s fiduciary responsibilities, including a website to better communicate with unsecured creditors;
- A hearing held on December 6 with Toys “R” Us creditors at the United States Trustee’s Office in Richmond, Virginia. During the hearing, bonuses for Toys “R” Us senior management were contested, but ultimately granted by the court;
- An amended statement of financial affairs filed by Toys “R” Us on December 4.
“As Toys “R” Us continues to work through its bankruptcy proceedings, we remain vigilant in monitoring any updates so that we can share them immediately with our members,” says Paul Vitale, The Toy Association’s executive vice president of finance and operations. “We also encourage members to view the dedicated section on our website for information related to Toys “R” Us, including a recent webinar addressing steps to take when a customer is in financial trouble and frequently asked questions.”
