Toys R Us seeks help in £400m debt restructure

Lewis Tyler

By Lewis Tyler

May 1st 2012 at 11:42AM
Toys R Us seeks help in £400m debt restructure

Reports say the toy retail giant is looking to appoint advisers to refinance or restructure huge debt.

The owners of Toys R Us are expected to appoint the finance firm Cairn Capital to help in the restructuring or refinancing of debts of £400 million, accordring to the Sunday Times.

The toy specialist is considering its options, including adding new equity and extending debt repayment deadlines. The current debts are secured against TRU's UK property assets, and have a deadline of 2013.

Toys R Us was bought by a US consortium in 2006 for £4 billion. During the process, the UK stores were organised into a seperate company which were then leased back to the retailer.