Contact
Contact

Contact Us

Bold labels are required.

NameThis field is required.

disclaimer.

The use of the Internet or this form for communication with the firm or any individual member of the firm does not establish an attorney-client relationship. Confidential or time-sensitive information should not be sent through this form.

close

Privacy Policy

Simon, Fitzgerald, Cooke, Reed and Welch
Simon Fitzgerald, LLC
Louisiana’s Oldest Bankruptcy Law Firm
888-341-8091
Free Case Evaluation
View Our Practice Areas

Restructured payment part of Toys 'R' Us debt relief plan

Most Louisiana parents have purchased Toys 'R' Us products at one time or other. As one of the largest retail toy stores in the nation, the company is a household name in most states. That's why so many people were surprised to learn that the toy icon was in need of immediate debt relief; in fact, it was struggling to stay afloat.

The company filed for bankruptcy protection and had planned to cut down on its number of stores throughout the nation in an effort to restructure and rebuild. The plan did not work out, namely due to hedge funds that were owed more than $1 billion. The hedge funds activated litigation to force Toys 'R' Us to liquidate.

Sadly, 33,000 people lost their jobs when the doors to all the nations' Toys 'R' Us stores closed. A judge overseeing the case recently approved a plan where the hedge funds will control the company while a restructured payment plan is implemented to continue to pay back suppliers. Those who led the attempted turn-around effort say it was primarily online shopping that made it impossible for them to hold their own in the retail market.

There are generally several debt relief options available when serious financial problems arise in a business. A key factor that can mean the difference between staying in business and working toward restored financial stability or shutting doors for good lies in what type of support is accessed. An experienced Louisiana bankruptcy law attorney can review a case and provide guidance as to what might be the best course of action in a particular set of circumstances.

No Comments

Leave a comment
Comment Information
Email Us For A Response

Office Locations

Shreveport Office
4700 Line Avenue, Suite 200
Shreveport, LA 71106
Phone:318-550-4873
Fax: 318-868-8966

Map & Directions

Shreveport Office

Alexandria Office
1118 3rd Street
Alexandria, LA 71301
Phone: 318-224-0340
Fax: 318-868-8966

Map & Directions

Alexandria Office

Lafayette Office
2901 Johnston Street, Suite 202
Lafayette, LA 70503
Phone: 337-205-0492
Fax: 337-456-5465

Map & Directions

Lafayette Office