kb toys went out of business in march 2018.
kb toys went out of business in march 2018.
when did kb toys go out of business?
march 2018
because of poor sales at its mall-based locations, as well as competition, the company filed for chapter 11 bankruptcy on december 11, 2008. the chain began going-out-of-business sales that month. at the time, the company had 10,850 employees, including approximately 6,500 seasonal workers. the company had 277 mall locations, 114 kb toy outlet stores, 40 kb toy works stores, and 30 kb toys holiday stores, for a total of 461. it was the largest mall-based toy retailer in the united states at the time, operating in 44 states, as well as guam and puerto rico. it was also the second-oldest operating toy retailer in north america (behind fao schwarz) before its demise. the store-closing sales (as well as the termination of the company's website) were concluded on february 9, 2009.
kb toys
in december 2000, bain capital purchased the company for $305 million, in partnership with kb toys' management team. the investment group included 200 store managers led by bain capital and by kb toys' chief executive officer michael glazer. bain capital contributed $18.1 million to the sale, while the remainder was financed by banks that lent the money to kb toys. the kb toys sale included its various divisions: kb toy works, kb toy outlet, kb toy liquidators, kb toy express, and kbkids.com. the sale ended kb toys' two decades as a subsidiary, turning it into a private company. kb toys began focusing more on video games, which accounted for 20 percent of the company's revenue as of 2001. starting that year, kb toys opened temporary "stores within a store" at select sears department stores during the christmas season. the stores were initially known as "kb toys at sears", and averaged . during 2001, kb toys agreed to pay approximately $5.4 million to acquire several inventory lots from the bankrupt etoys.
kb toys