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Political Factoid
K-B Toys
- a typical American company?
- Founded 1922
- Operated 1,300 stores in 50 states (at its peak).
- Subject of leveraged buyout by Bain Capital in 2000.
- With only 18 million from Bain Capital
and $287 million "borrowed" *
from the assets of K-B Toys.
- $85 million taken out in dividends in 2002.
- Filed for bankruptcy in 2004.
- Fully liquidated by 2009.
- 15,000 employees lost their jobs.
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Which is why it is called a "leveraged buyout"
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cf.
4397
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