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Related: Editorials & Other Articles, Issue Forums, Alliance Forums, Region ForumsCrayola, other vendors to take a haircut in Toys R Us bankruptcy settlement
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 whats available after a group of lenders take what theyre 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 theyre 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
(67,193 posts)could make massive profits before the corpse was cold
It would be nice if there was a means to sue the buzzards.
budkin
(6,691 posts)Companies like Bain Capital are utter scum.