Toys R US edges closer to bankruptcy with claims agent retention

The Wayne, New Jersey-based retailer last week hired Alvarez & Marsal as chief restructuring officer and is currently in talks with creditors over how to fix its balance sheet. The company is also working with Kirkland & Ellis and Lazard. 

While the company has roughly USD 444m in upcoming maturities, management is engaged in liability management over its entire capital structure. Holders of the issuer’s B-4 Libor+ 875bps term loan due 2020 more recently organized with Houlihan Lokey and Wachtell.

Toys R US and Prime Clerk did not return calls seeking comment.