Post by wittzo on Mar 18, 2005 23:46:00 GMT -6
money.cnn.com/2005/03/17/news/fortune500/toysrus/index.htm?cnn=yes
NEW YORK (CNN/Money) - Toys "R" Us announced Thursday that it has agreed to sell the entire company to a group of investors led by KKR Group, Bain Capital and Vornado Realty Trust for $6.6 billion, plus the assumption of debt.
money.cnn.com/2005/03/17/news/fortune500/toysrus_closings/index.htm
Is your Toys 'R' Us closing?
With its sale almost a done deal, observers say the retailer could shutter a third of its stores
March 18, 2005: 10:26 AM EST
By Parija Bhatnagar, CNN/Money staff writer
NEW YORK (CNN/Money) - If you love your local Toys "R" Us, here's some bad news: There's roughly a one-in-three chance that your favorite toy store is going away.
That's assuming the deal to sell the toy chain to a group of investors for $6.6 billion goes through.(Edit: It did) The investors include a real estate holding company that analysts say is famous for turning struggling retailers' real estate into gold mines. (For more on the deal, click here.)
"A third is a reasonable number to expect, especially since one of the buyers in this sale is a well-known real estate trust company, " said Faith Consolo, chairman of the retail leasing and sales division of Prudential Douglas and Elliman.
Those at risk of closing are older stores that need renovation, stores in less visible, off-mall locations, and most importantly, stores with poor sales.
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Man, that's one of my favorite stores..I get my Star Wars stuff from there...
NEW YORK (CNN/Money) - Toys "R" Us announced Thursday that it has agreed to sell the entire company to a group of investors led by KKR Group, Bain Capital and Vornado Realty Trust for $6.6 billion, plus the assumption of debt.
money.cnn.com/2005/03/17/news/fortune500/toysrus_closings/index.htm
Is your Toys 'R' Us closing?
With its sale almost a done deal, observers say the retailer could shutter a third of its stores
March 18, 2005: 10:26 AM EST
By Parija Bhatnagar, CNN/Money staff writer
NEW YORK (CNN/Money) - If you love your local Toys "R" Us, here's some bad news: There's roughly a one-in-three chance that your favorite toy store is going away.
That's assuming the deal to sell the toy chain to a group of investors for $6.6 billion goes through.(Edit: It did) The investors include a real estate holding company that analysts say is famous for turning struggling retailers' real estate into gold mines. (For more on the deal, click here.)
"A third is a reasonable number to expect, especially since one of the buyers in this sale is a well-known real estate trust company, " said Faith Consolo, chairman of the retail leasing and sales division of Prudential Douglas and Elliman.
Those at risk of closing are older stores that need renovation, stores in less visible, off-mall locations, and most importantly, stores with poor sales.
--------------------------------------
Man, that's one of my favorite stores..I get my Star Wars stuff from there...