We use cookies on this site to enable your digital experience. By continuing to use this site, you are agreeing to our cookie policy. close

KB Toys Re-Enters Ch. 11, Plans To Close All Stores

Law360 (December 11, 2008, 12:00 AM EST) -- A sudden decline in consumer sales has sent KB Toys Inc., the nation's largest mall-based specialty toy chain, into bankruptcy protection, about three years after it emerged from an earlier Chapter 11 case under the ownership of Prentice Capital Management Inc.

The toy seller filed a voluntary petition with the U.S. Bankruptcy Court for the District of Delaware on Thursday, and asked the court to allow it to use cash collateral to continue to pay employees so the debtor can begin immediate going-out-of-business sales.

“In order...
To view the full article, register now.
Law360 Pro Say Podcast
Check out Law360's new podcast, Pro Say, which offers a weekly recap of both the biggest stories and hidden gems from the world of law.