Toys R Us Inc. has retained lawyers from Kirkland & Ellis LLP to help restructure $400 million in debt due next year, a person familiar with the matter said, the latest move by the toy chain as it struggles with growing online competition.
The Wayne, N.J.-based retailer has been burdened with debt since private-equity owners Bain Capital, KKR & Co. and Vornado Realty Trust took it private in 2005 for $6.6 billion. It has swapped debt coming due this year and next for longer-term debt with a higher interest rate,…
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