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We don't actually know how it worked out for them, because reportedly they spent twelve years siphoning off cash from Toys 'R' Us.
by metabagel 9y ago
We don't actually know how it worked out for them, because reportedly they spent twelve years siphoning off cash from Toys 'R' Us.
- harryh 9y agoWe do know actually: https://www.bloomberg.com/news/articles/2017-09-19/bain-kkr-vornado-suffer-wipeout-in-toys-r-us-bankruptcy https://www.bloomberg.com/news/articles/2017-09-19/bain-kkr-...
- metabagel 9y agoMarketplace says that Bain and KKR still made money off of the deal. https://www.marketplace.org/2018/03/06/business/toys-r-us-and-how-retail-downturn-story-about-debt https://www.marketplace.org/2018/03/06/business/toys-r-us-an... "The private equity firms’ investors haven’t made money off this deal. But the firms themselves have. It’s unclear where Vornado ended up. But after collecting fees from Toys R Us, Bain and KKR each took home at least $15 million."
- harryh 9y agoThat says they earned revenue, not a profit. They did not earn a profit.