K B Toys

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.

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.

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.

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.

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.

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.

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.

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.