KB Toys Filed for Chapter 11 Bankruptcy

{mosimage}Looking for Transformers toys just got a little more difficult, as KB Toys has recently filed for Chapter 11 bankruptcy according to Playthings.com. The reason behind the filing was, in KB Toys VP and comptroller Raymond Borst's words:

“[The] sudden and sharp decline in consumer sales due to macro-economic concerns. … In light of, among other things, the erosion in sales, the Debtors reviewed their liquidity needs and investigated a number of potential alternatives to address their projected liquidity shortfall.”

Read the original article here and discuss it here at Lord Zhufor's thread.