Toys ‘R’ Us Enlists Advisers to Help Restructure Debt
- Retail chain also tapped Lazard to assist with financing
- Company has struggled to fend off Amazon, discount chains
Toys-R-US in Fairfax, Virginia
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Toys “R” Us Inc. has tapped lawyers at Kirkland & Ellis to help restructure its heavy debt load, said people familiar with the matter, the latest sign of trouble for a once-mighty retailer that has struggled to fend off Amazon.com Inc. and the discount chains.
The law firm’s restructuring experts are focused on the $400 million in debt that comes due next year, according to the people, who asked not to be identified because the deliberations are private. Toys “R” Us also has retained Lazard Ltd. to help with debt refinancing, the people said.