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| TOYS ARE US.MAY FILE FOR BANKRUPTCY http://newyorkracingboard.com/viewtopic.php?f=5&t=26184 |
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| Author: | Hopalong [ Mon Sep 18, 2017 5:29 pm ] |
| Post subject: | TOYS ARE US.MAY FILE FOR BANKRUPTCY |
BEFORE THE HOLIDAYS. |
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| Author: | lukeydog [ Tue Sep 19, 2017 10:11 am ] |
| Post subject: | Re: TOYS ARE US.MAY FILE FOR BANKRUPTCY |
Of course before the holidays...how else would you screw your distributors? Chain died 5 years ago. Garbage pickers came in and bought them for pennies on the dollar with other peoples money and now forced to pay back they will instead screw the people who supported them with inventory and goods as they "got back on their feet". This is a crime and they should be prosecuted not rewarded. |
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| Author: | Jay Trotter [ Tue Sep 19, 2017 9:53 pm ] |
| Post subject: | Re: TOYS ARE US.MAY FILE FOR BANKRUPTCY |
lukeydog wrote: Of course before the holidays...how else would you screw your distributors? Chain died 5 years ago. Garbage pickers came in and bought them for pennies on the dollar with other peoples money and now forced to pay back they will instead screw the people who supported them with inventory and goods as they "got back on their feet". This is a crime and they should be prosecuted not rewarded. Fake news. It's been 12 years since the buyout, and the price paid per share was at the multi-year high level, hardly pennies on the dollar. The plan was to improve the balance sheet and then spin them back to the public at a substantial profit. That's the goal of leveraged buy-outs and they tried the public offering in 2010. Unfortunately, a 1-billion pound gorilla called Amazon got in the way. KKR, Bain, and Vornado isn't exactly "other peoples money". And I'm sure Vornado has a very substantial interest in keeping them viable to maintain the rent receipts. There are surely some distributors that will take it on the chin, but them's the breaks. |
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