Financial Trouble
K·B closed 156 stores on November 8, 2007. The Gordon Brothers Group handled the liquidation of these stores. On February 9, 2009, K·B closed the remaining stores following the second bankruptcy filing in four years. In addition, K·B Toys' website was closed down.
The K·B Toys brand and related intangible assets were sold by Streambank LLC to Toys "R" Us on September 4, 2009, for a reported $2.1 million. Because K·B Toys' 460 stores had been closed and liquidated, the sale applies mainly to the company's logo, website, and trademarks/intellectual properties. Toys "R" Us remains unsure of how the K·B name will fit into its future business plan. So far, Toys "R" Us uses the K·B Toys brand in self-manufactured toys, under the name "KB Classics" with the K·B Toys logo.
Read more about this topic: KB Toys
Famous quotes containing the words financial and/or trouble:
“Because of these convictions, I made a personal decision in the 1964 Presidential campaign to make education a fundamental issue and to put it high on the nation’s agenda. I proposed to act on my belief that regardless of a family’s financial condition, education should be available to every child in the United States—as much education as he could absorb.”
—Lyndon Baines Johnson (1908–1973)
“A: “You must give me another proof of your devotion.”
B: “You would be less trouble as an enemy.””
—Mason Cooley (b. 1927)