Deals
KKR, Bain Create $20 Million Fund for Toys ‘R’ Us Workers
- Employees continue to ask chain’s creditors for contributions
- Feinberg, Biros will oversee fund for workers denied severance
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The two buyout firms that took Toys “R” Us Inc. private will each kick in $10 million to a fund for workers who lost their jobs when the retailer collapsed last year.
The contributions from KKR & Co. and Bain Capital mark the culmination of months of pressure from former employees and their representatives. Workers will be eligible if they had at least a year of tenure and earned between $5,000 and $110,000 annually at the defunct retailer, the private equity firms said in a statement Tuesday.