Toys “R” Us Australia is working with law firm Gilbert + Tobin to help navigate its future after its New York-headquartered parent filed for bankruptcy, Street Talk can reveal.
It is understood G+T’s distressed debt team was retained by the company locally and has been advising in conjunction with restructuring law firm Kirkland & Ellis in the United States, which is acting for the toys group worldwide.
Toys “R” Us, America’s largest toy chain, has global debt facilities in excess of $US5 billion and its banks lend globally across the whole group.
Sources said reveal local teams from King & Wood Mallesons and Allens have been working separately for two of the lenders. The two law firms have also been collaborating with their counterp…