Toys “R” Us employees visit KKR, Bain Capital, Vornado offices, draw media attention
Last Monday, dozens of Toys “R” Us employees from around the country visited KKR, Bain Capital, and Vornado’s offices in New York City.
Private equity firms KKR and Bain Capital and real estate firm Vornado took $464 million in fees and interest from retailer Toys “R” Us before taking the company into bankruptcy. Toys “R” Us is in the process of liquidating and laying off 33,000 employees.
In addition, Senators and Congressmen from New Jersey, where Toys “R” Us is headquartered, sent a letter to KKR, Bain Capital, and Vornado and held a press conference calling on the private equity firms to pay a fair severance to Toys “R” Us employees.