Joele Frank Wilkinson Brimmer Katcher handles today's Chapter 11 filing of Toys "R" Us, which seeks a court-supervised reorganization due in part from debt pressures related to the 2005 $6.6B buyout by Vornado Realty Trust and Bain Capital and KKR & Co.
Wal-Mart, Target and Amazon.com also put competitive heat on the once-dominant toy retailer, operator of 1,600 stores worldwide,
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CEO Dave Brandon offered a positive spin on Chapter 11, saying it "marks the dawn of a new era at Toys“R”Us where we expect that the financial constraints that have held us back will be addressed in a lasting and effective way."
He assured customers that it would be business-as-usual during the financial restructuring
"As the holiday season ramps up, our physical and web stores are open for business, and our team members around the world look forward to continuing to put huge smiles on children’s faces," said Brandon.
JFWBK's Michael Freitag and Meaghan Repko represent Wayne, NJ-based Toys, which employs 65K people.
Teneo is handling the initial public offering of CVC Capital Partners, one of Europe’s largest private equity firms with nearly $200B in assets under management.
Brunswick Group represents Endeavor Group Holdings as it agrees to go private via its acquisition by Silver Lake technology investment firm, which is handled by Edelman Smithfield.
Tod Donhauser, a nine-year veteran of Edelman, has joined H/Advisors Abernathy as managing director and head of its San Francisco office.
Intelligent Group Ltd, a Hong Kong-based financial PR firm, has priced its initial public offering of 1.9M shares at $4, which is the low end of the $4 to $5 range.
Kekst CNC represents Grant Thornton as it sells a majority stake in its US arm to New Mountain Capital, which relies on Goldin Solutions, in what is billed as the largest PE investment in the accounting and advisory sector.
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