Street Diligence On The Recent Toys R Us Bankruptcy Filing

September 20, 2017

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Stephen Hazelton, the founder of the credit document analytics group Street Diligence, characterised the toy retailer’s capital structure as “extremely complicated”.  The Gordian knot of inter-creditor agreements and intercompany loans has made “the actual pecking order . . . a bit of a mess”, Mr Hazelton said. “The guarantee relationships, the intercompany debt outstanding, all of that is extremely complicated and will have a material effect on who gets what.”

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