Deals
Toys 'R' Us Nearly Had a Deal to Save Itself
- Negotiations broke down as lenders opted for U.S. shutdown
- Debt holder Solus said to lead push toward liquidation
A customer passes in front of discounted games displayed for sale at a Toys 'R' Us store in Queens, New York, on May 11.
Photographer: Jeenah Moon/BloombergThis article is for subscribers only.
In its rush to find a buyer earlier this year and avoid liquidation, bankrupt Toys “R” Us Inc. landed on a familiar name: Sycamore Partners, according to people familiar with the matter.
The private-equity firm, which had already scooped up several troubled retailers, held advanced talks with Toys “R” Us about acquiring the chain and keeping open half its 800 U.S. locations, said the people, who asked not to be named because the negotiations weren’t public.