Crayola, other vendors to take a haircut in Toys R Us bankruptcy settlement

[TexasTowelie]

The color creators at Crayola LLC may have to concoct a shade to symbolize compromise.

It can represent the settlement agreement the Forks Township crayon-maker and other vendors reached last week with Toys R Us, the retail chain that filed for Chapter 11 bankruptcy protection in September but was unable to successfully reorganize beneath a mountain of debt totaling more than $5 billion.

The agreement would create a pot of $180 million for creditors such as Crayola, a fund that could potentially grow depending on what’s available after a group of lenders take what they’re owed under prebankruptcy claims, according to filings last week in U.S. Bankruptcy Court.

That, however, falls short of the roughly $750 million to $850 million that the vendors say they’re owed for shipping merchandise to Toys R Us to keep the chain operating while it attempted to restructure.

Read more: http://www.mcall.com/business/mc-biz-crayola-toy-vendors-toys-r-us-settlement-20180723-story.html

[msongs]

1. get the $$ from the corporate predators who deliberately drove the company down so they

could make massive profits before the corpse was cold

[Sherman A1]

3. I agree

It would be nice if there was a means to sue the buzzards.

[budkin]

2. Vulture Capitalists are responsible

Companies like Bain Capital are utter scum.

[dembotoz]

4. just a reminder...who took it in the shorts when trumpy went bk multiple times