May 12, 2004 |
KB Toys Inc., the largest U.S. mall-based toy retailer, sold its Internet assets to investment firm D.E. Shaw for $7.4 million as it tried to emerge from bankruptcy protection. D.E. Shaw, a New York-based firm that this year bought FAO Inc.'s FAO Schwarz stores in New York and Las Vegas, also will make royalty payments of at least $500,000 a year for the next three years, the firm said. The purchase includes inventory, equipment and the EToys trademarks. D.E.
January 15, 2004 |
KB is headed into BK. KB Toys Inc. filed for Chapter 11 bankruptcy protection Wednesday, the latest victim of a bruising holiday-season price war that forced FAO Inc. to liquidate part of its business and cut into the sales and profits of other big-name toy sellers. Pittsfield, Mass.-based KB, best known for its ubiquitous mall-based toy stores, said its restructuring could include closing as many as 500 underperforming stores.
April 27, 2001 |
KB Toys Inc., a U.S. toy store chain, agreed to pay about $5.4 million for the inventory of bankrupt Web retailer EToys Inc. Closely held KB Toys won bidding for seven of 11 lots of inventory and will sell the items at a discount on KBkids.com and at KB Toy Outlet and KB Toy Works stores, a spokesman said. The Pittsfield, Mass.-based company is interested in other assets, including EToys' Web address, he said.
December 9, 2000 |
Close-out retailer Consolidated Stores Corp. said that it has sold its K-B Toys division to an affiliate of Boston-based investment company Bain Capital Inc. for $305 million. The separation of Consolidated's close-out and toy businesses is intended to improve the performance of each entity, the company said. KB's management will continue to lead the chain of toy stores.
November 16, 2000 |
Consolidated Stores Corp. said it reached an agreement to sell the K-B Toy chain to an unnamed buyer, shedding a business that the company said is less profitable than when it was acquired almost five years ago. The company also reported a decline in fiscal third-quarter profit and said fourth-quarter earnings will be below analysts' estimates because of sluggish consumer spending and price cuts during the holiday season.
December 16, 1999 |
A civil rights group filed suit against retailer K.B. Toys, alleging that some of its stores engage in discrimination against black customers. The Washington-based Equal Rights Center, along with two African American customers, named the mall-based retailer and its parent company, Wilmington, Del.-based Consolidated Stores Corp., in the lawsuit filed in U.S. District Court in Greenbelt, Md. In its suit, the center says it uncovered a pattern of discrimination at K.B.