“KKR and Mitt Romney’s Bain Capital purchased Toys ‘R’ Us which distributes toxic estrogen mimicking plastic toys and baby formula, fire retardant clothing, occult themed movies and toys to our children. In December 2011, KKR Capstone executives (capstone referring to the top of an occult all-seeing-eye of Satan pyramid) took the Reins of GoDaddy.com. KKR owned Kindercare Learning Center [KLC] logo is a stylized pyramid and a capstone containing six notches. To Satanists the six notches inside of the capstone represent man above God. I have deconstructed the KLC logo [below] to illustrate the hidden design and meaning of KLC’s Anti-Christian occult pyramid logo. You’ll notice that the [KLC] logo is identical to the occult pyramids flaunted by Sacramento Kings Basketball owner, Mark Friedman; The IRS Headquarters and former CIA Director/President, George H.W. Bush. KinderCare is a leading child-care provider which operates 1,149 centers in 39 states and has child-care contracts with both The Walt Disney Company and The Lego Group. KLC has been accused in the past of being part of an institutional pedophile ring. In 1999 a director for Kindercare [Martin Gibbons ] was charged with two counts of 1st degree child molestation. KinderCare’s Babylonian Talmudic owner, Henry Kravis, is very close friends with George H.W. Bush, Henry Kissinger, and the Rockefeller Family.” – KillingIreland.com, pgs. 194-195
- Ann and Mitt Romney and their Connection to Fraud & Sex Trafficking (read more)
By ZeroHedge.com, 9/19/2017
Toys “R” Us Inc., the largest US “brick and mortar” toys retailer, filed for bankruptcy late on Monday night, as a result of a crushing post-LBO debt load and relentless competition from warehouse and online retailers, the “latest blow to a retail industry reeling from store closures, sluggish mall traffic and the gravitational pull of Amazon.com” according to Bloomberg. The Chapter 11 filing is among the largest ever by a specialty retailer and casts doubt over the future of its about 1,600 stores and 64,000 employees. It comes just as Toys ‘R’ Us is gearing up for the holiday shopping season, which accounts for the bulk of its sales, and as vendors halt shipments to the now insolvent retailer.
With assets of $6.9 billion, it’s the second-largest retail bankruptcy, trailing the filing in 2002 by Kmart, which had $14.6 billion in assets.
The company was saddled with debt from a $6.6 billion buyout in 2005 led by KKR, Bain Capital and Vornado Realty Trust. Toys ‘R’ Us has bonds coming due over the next few years that lost most of their value this month.
“While today’s decision does not necessarily mean it is game over for Toys ‘R’ Us, it brings to a close a turbulent chapter in the iconic company’s history,” said Neil Saunders, managing director of GlobalData Retail.
“What they have going for them is they are the last major player in their market,” said David Berliner, a partner and restructuring specialist with BDO Consulting. “The vendors don’t want to see them fail, so I think they have a good opportunity to survive.”
The company listed debt and assets of more than $1 billion in its Chapter 11 filing submitted Monday at the U.S. Bankruptcy Court in Richmond, Virginia (an odd place for such a major bankruptcy filing). Prior to filing, the company said that it had secured more than $3 billion in financing from lenders including a JPMorgan Chase & Co.-led bank syndicate and certain existing lenders to fund operations while it restructures. The money will be critical to provide comfort to Toys “R” Us vendors that they will be paid on time. Yesterday the stocks of some key suppliers such as Hasbro and Mattel were hit in advance of the filing.
When reports surfaced recently that Toys “R” Us was weighing a bankruptcy filing, Chinese toy scooter maker Pinghu Mijia Child Product Co. put all of the retailer’s orders on hold, fearing it wouldn’t get paid, according to sales manager Justin Yu, Bloomberg reported. The toy retailer represents about 10 to 20 percent of the Chinese supplier’s sales. “We were shocked to hear the news last week because their orders to us have been rising every year, so we did not know they were in trouble,” Yu said. “They’re a major buyer and I would say that the majority of toy makers in China would have some contracts with them.”
The bankruptcy filing by the company also may have global implications, especially for Chinese toy manufacturers. Some 38 percent of the company’s revenue came from overseas markets in the latest fiscal year. “It’s a loss for the long-term benefit of the entire industry,” said Lun Leung, chairman of Hong Kong-based Lung Cheong Group, a toy supplier for Hasbro Inc. He said Toys “R” Us accounted for less than 5 percent of the group’s sales.
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