Toys“R”Us Bankruptcy Information

Introduction

The Toy Association provides manufacturing members with a variety of resources to monitor the status of toy retailers. As part of those resources, The Toy Association has created this section to provide a place for members of the toy community to monitor the status of the Toys“R”Us bankruptcy and liquidation process. The Toy Association intends to act as a clearinghouse for information from TRU on the bankruptcy case and to get similar creditor questions answered and shared with the broader membership.

The Toy Association is committed to securing resources needed to support members, including a Bankruptcy Counsel and financial advisors. In the meantime, Paul Vitale, executive vice president of finance & operations, and Rick Locker, counsel to the Association, remain the important primary contacts for members in the weeks ahead.

This section will continue to be updated as new information becomes available. Members are also encouraged to watch for important Member Alerts via email and announcements in Toy News Tuesday.

Chronology of Events

August 4, 2020: Case Against Toys“R”Us Leadership Moves to VA; Subpoenas Members
October 2, 2018: TRU Update: Settlement Agreement, Status of IP & More
August 23, 2018: Toys"R"Us Settlement Agreement and More
July 31, 2018: Toys"R"Us Bankruptcy Status and Proposed Settlement Agreement Update
July 16, 2018: Deadline for filing post-petition claims arising before June 30, 2018. [Docket No. 3260]
April 30, 2018: Toys“R”Us Bankruptcy Update: Members Encouraged to View Unsecured Creditors’ Committee Website
April 26, 2018: Toys"R"Us Bankruptcy Proceedings Update
April 23, 2018: Member Alert: Toys"R"Us Bankruptcy Updates
April 11, 2018: Summary of recent court filing by the official Unsecured Creditors Committee
April 6, 2018: Deadline for Receipt of Claims [Docket Nos. 1300, 1332 and 1635]
March 15, 2018: Toys“R”Us files new motions under Chapter 11 proceedings
March 9, 2018: Toys“R”Us Bankruptcy Update
February 9, 2018: Toys“R”Us Canada Bankruptcy Proceedings Updates | Deadline for Claims is April 6
January 10, 2018: Toys“R”Us Bankruptcy Updates | Deadline for Claims Established
December 12, 2017:Latest Updates on Toys“R”Us
December 6, 2017: Creditors Meeting in Richmond VA (rescheduled from November 16; call-in number requested)
November 15, 2017: Updates on Toys"R"Us Bankruptcy Proceedings
October 24, 2017: Creditors Meeting in Richmond VA
September 26, 2017: Appointment of Unsecured Creditor Committee
September 25, 2017: TRU Announces Closing on $3.1B Debtor-in-Possession Financing
September 20, 2017: TRU filed for bankruptcy in Canada.
September 18, 2017: TRU filed for voluntary protection under United States bankruptcy codes. TRU’s press release
September 9, 2017: News is released that Toys“R”Us (TRU) hired a top restructuring law firm (Kirkland & Ellis) to assist in its evaluation of options to refinance its debt.

Actions by the Credit Interchange Program

Recordings are for Toy Association Members and should not be shared with anyone outside of your company.

July 31, 2018:

The Toy Association hosted a special conference call that provided status updates and proposed settlement agreement information from FTI Consultants (financial consultants to the official Unsecured Creditors Committee) and Kramer Levin Naftalis & Frankel LLP (legal counsel to the official unsecured Creditors Committee). Listen to an audio recording of the call here.

May 30, 2018:

The Toy Association hosted a special conference call that provided updates from the Unsecured Creditors Committee legal counsel, Kramer Levin, and financial advisors, FTI Consulting, regarding the Toys“R”Us bankruptcy. Listen to an audio recording of the call here.

April 26, 2018:

The Toy Association hosted a special conference call that provided updates from the Debtors Counsel and Financial Advisors regarding the Toys“R”Us bankruptcy. Listen to an audio recording of the call here.

March 30, 2018:

March 21, 2018

The Toy Association hosted a special conference call for members that provided updates and guidance on the Toys “R” Us Bankruptcy. Click here for call information and download.

October 12, 2017

The Toy Association hosted a members-only webinar entitled “Creditors’ Rights: Techniques to Minimize Risk and Maximize Recovery.” The session was presented by Jason Torf, a bankruptcy and creditors’ rights attorney with the law firm Horwood Marcus & Berk Chartered. A recording of the session and accompanying PDF are available here.

September 19, 2017

The Toy Association hosted a Trade Credit conference call for its manufacturing members. Click here for call information and download.

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