US chain goes down

KB Toys, one of the biggest toy chains in the US, has filed for Chapter 11.
Author:
Publish date:
Social count:
0
5_Pocoyo.jpg

It plans to close all of its 460 stores,but is trying to find a buyer for its wholesale distribution unit.

KB filed a Chapter 11 petition in Federal Bankruptcy Court in Delaware, along with eight affiliates, listing assets in the range of $100 million to $500 million and liabilities in the same range.

The firm started in 1922 as a family-owned business, previously filed for bankruptcy protection in 2004 and emerged from bankruptcy in 2005 after selling itself to Prentice Capital Management.

It has 10,850 employees, about 6,515 of them seasonal. About 277 stores are located in malls. Some 30 operate seasonally and were set to close in January.

Related

Featured Jobs

Vivid Job Logo 620 x 349

Digital Marketing Executive - Toys & Games

Vivid is Britain’s biggest toy company and the 20 largest in the world. With offices across the globe, they sell an amazing portfolio of toys and games to over 60 countries. Vivid is best known for its association with blockbuster brands and is very excited about future opportunities around the world.

Liberty

UK Sales Agents

Liberty House Toys have been appointed as the exclusive UK distributor for the BiOBUDDi brand, and we are pleased to introduce this new unique, innovative and exciting range of 100% environmentally-friendly toy building blocks. We are seeking experienced sales agents with existing network in the toy retail market.

Gameplan Job Logo 620 x 349

Head of Product Development & Marketing

Our client is a privately owned French toy and games manufacturer which sells through distributors in forty countries. The company develops and sells innovative electronic interactive toys and games for the educational and gaming markets, and also takes suitable licenses. To progress its successful business development a Head of Product Development & Marketing is to to recruited.

HIT Entertainment Job Logo 620 x 349

Licensing Systems Administrator

The Contract System Coordinator is a newly created role to support the deal term entry process into Mattel’s new Contract Management System for its Licensing business. The role will support the Business Teams at the Deal & Amendment phase of the contracting process and act in conjunction with the System Administration team.