Toys"R"Us Receives Commitment for $80 Million in Incremental Financing to Support Asia and Central Europe Operations

WAYNE, N.J., April 11, 2018 /PRNewswire/ -- Toys"R"Us, Inc. today announced that it has received a commitment from its Taj Noteholders for $80 million in incremental debtor-in-possession ("DIP") financing to augment liquidity as well as support the working capital needs of the Company's operations in Asia and Central Europe. While the Company believes its Asian and Central European operations have sufficient liquidity to fund their current operations based on historical trends, this financing provides these operations greater flexibility to operate, grow their footprint and build inventory for the important 2018 holiday season. The Company's operations in Asia and Central Europe continue to provide their customers the high level of service and well stocked product offerings that they expect. The Taj Noteholders providing this financing remain supportive of these businesses and excited about their long-term growth prospects.

As of period one ended March 3, 2018, the Company's Asia operations had approximately $230 million in liquidity comprised of cash and available lines of credit and Central Europe had approximately $28 million of cash.

Dave Brandon, Chairman and Chief Executive Officer, said, "This additional financing further positions our Asian and Central European operations for continued success. We appreciate the ongoing financial support and look forward to continued positive relationships with our vendors."

The Company has received interim approval of the incremental DIP financing from the United States Bankruptcy Court for the Eastern District of Virginia (the "Bankruptcy Court"). Final approval by the Bankruptcy Court is scheduled for April 27, 2018.

Additional information regarding the Company's restructuring process can be obtained by sending an email to [email protected] or by calling the Company's Information Hotline, toll-free, in the U.S. and Canada at (844) 794-3476 and at the following numbers internationally:

• Germany: 0800-182-9016
• UK: 800: 0-800-014-8914
• Spain Mobile Enabled: 900-984918
• Portugal Mobile Enabled: 800-180-778
• France: 805: 0805-080337
• Poland: 0-0-800-141-0322
• Australia 1300: 1-300-009-390
• Austria Mobile Enabled: 0800-802290
• Switzerland Mobile Enabled: 0800-562-556
• China: 400-120-4011

Kirkland & Ellis LLP is serving as principal legal counsel to Toys"R"Us, Alvarez & Marsal is serving as restructuring advisor and Lazard is serving as financial advisor.

For more information please contact:

Amy von Walter, Executive Vice President, Global Communications & Customer Care at 201-815-9512 or [email protected]

[email protected] 

973-617-5900

Michael Freitag / Aaron Palash
Joele Frank, Wilkinson Brimmer Katcher
Tel: (212) 355-4449

SOURCE Toys“R”Us, Inc.

Related Links

http://toysrus.com