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BUSINESS
December 16, 1999 | Bridge News
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.
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BUSINESS
August 31, 2005 | From Times Wire Services
KB Toys Inc. on Tuesday said it had emerged from bankruptcy protection before the key holiday selling season, led by management chosen by its new majority owner, PKBT Funding. The emergence will give privately held KB Toys, which operates 640 mostly mall-based toy stores, a chance to participate in the increasingly cutthroat holiday toy shopping season.
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BUSINESS
September 20, 2001 | Reuters
Sears, Roebuck & Co. said it will test holiday toy sales in 29 of its department stores under an agreement with closely held specialty retailer KB Toys Inc. As part of the deal, Sears will open "stores-within-a-store" at some locations. The shops will average 1,500 square feet and will have a variety of brand-name and KB Toys products. The companies said the first "KB Toys at Sears" location will open Friday in Chicago. On Oct.
BUSINESS
August 19, 2005 | From Bloomberg News
KB Toys Inc. won Bankruptcy Court approval for a reorganization plan that gives Prentice Capital Management a 90% stake in the company. U.S. Bankruptcy Judge Walter Shapero's approval allows KB Toys to end its bankruptcy case by the end of the year. Prentice, which is controlled by hedge fund investor Michael Zimmerman, will pay $20 million for 90% of Pittsfield, Mass.-based KB Toys' common stock and supply a $25-million loan, according to court documents.
BUSINESS
May 17, 2005 | From Associated Press
KB Toys Inc. said it expected to emerge from bankruptcy protection before the holiday shopping season without closing more stores or cutting more jobs under an agreement that would put the chain under control of a New York investment firm. An affiliate of Prentice Capital Management would invest $20 million in the reorganized company and extend credit of as much as $25 million in exchange for 90% of the new entity's private equity common stock and all of its preferred stock.
BUSINESS
August 19, 2005 | From Bloomberg News
KB Toys Inc. won Bankruptcy Court approval for a reorganization plan that gives Prentice Capital Management a 90% stake in the company. U.S. Bankruptcy Judge Walter Shapero's approval allows KB Toys to end its bankruptcy case by the end of the year. Prentice, which is controlled by hedge fund investor Michael Zimmerman, will pay $20 million for 90% of Pittsfield, Mass.-based KB Toys' common stock and supply a $25-million loan, according to court documents.
BUSINESS
April 27, 2001 | Bloomberg News
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.
BUSINESS
January 29, 2004 | Abigail Goldman, Times Staff Writer
Mall-based retailer KB Toys Inc., which filed for bankruptcy protection this month, said Wednesday that it would close at least 375 stores and cut 3,500 jobs as part of its restructuring. Pittsfield, Mass.-based KB, which is controlled by private equity firm Bain Capital, said it would announce the closures of an additional 19 to 115 stores by Feb 11. Clearance sales of as much as $122.
BUSINESS
May 12, 2004 | From Bloomberg News
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.
BUSINESS
January 15, 2004 | Abigail Goldman, Times Staff Writer
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.
BUSINESS
May 17, 2005 | From Associated Press
KB Toys Inc. said it expected to emerge from bankruptcy protection before the holiday shopping season without closing more stores or cutting more jobs under an agreement that would put the chain under control of a New York investment firm. An affiliate of Prentice Capital Management would invest $20 million in the reorganized company and extend credit of as much as $25 million in exchange for 90% of the new entity's private equity common stock and all of its preferred stock.
BUSINESS
May 12, 2004 | From Bloomberg News
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.
BUSINESS
January 29, 2004 | Abigail Goldman, Times Staff Writer
Mall-based retailer KB Toys Inc., which filed for bankruptcy protection this month, said Wednesday that it would close at least 375 stores and cut 3,500 jobs as part of its restructuring. Pittsfield, Mass.-based KB, which is controlled by private equity firm Bain Capital, said it would announce the closures of an additional 19 to 115 stores by Feb 11. Clearance sales of as much as $122.
BUSINESS
January 15, 2004 | Abigail Goldman, Times Staff Writer
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.
BUSINESS
September 20, 2001 | Reuters
Sears, Roebuck & Co. said it will test holiday toy sales in 29 of its department stores under an agreement with closely held specialty retailer KB Toys Inc. As part of the deal, Sears will open "stores-within-a-store" at some locations. The shops will average 1,500 square feet and will have a variety of brand-name and KB Toys products. The companies said the first "KB Toys at Sears" location will open Friday in Chicago. On Oct.
BUSINESS
April 27, 2001 | Bloomberg News
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.
BUSINESS
August 31, 2005 | From Times Wire Services
KB Toys Inc. on Tuesday said it had emerged from bankruptcy protection before the key holiday selling season, led by management chosen by its new majority owner, PKBT Funding. The emergence will give privately held KB Toys, which operates 640 mostly mall-based toy stores, a chance to participate in the increasingly cutthroat holiday toy shopping season.
BUSINESS
December 9, 2000 | Associated Press
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.
BUSINESS
December 9, 2000 | Associated Press
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.
BUSINESS
November 16, 2000 | Bloomberg News
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.
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