Toys R Us Employees win $20 MILLION
On November 20, 2018,
Tens of thousands of Toys ‘R’ Us employees made history announcing the creation of a $20 million financial assistance fund by two of the company’s former owners — KKR and Bain Capital.
For months, laid off Toys ‘R’ Us employees who built the iconic toy store have come together to call for fair compensation. Because of the tireless leadership of hundreds of Toys ‘R’ Us employees and their families, we have overcome the odds and done something no one has done before.
The fund is an important first step in ensuring that Toys ‘R’ Us employees who lost our livelihood receive the support we were promised and deserve. And it marks an unprecedented move to help thousands of families who face financial hardship due to the store closures and bankruptcies that have been plaguing the retail industry.
But our work isn’t over.
We can grow this Fund to reach the $75 million that 33,000 Toys ‘R’ Us employees are owed by moving other former owners and creditors like Vornado, Solus and Angelo Gordon to contribute.
We made history today with the Toys ‘R’ Us fund, but our movement has just begun. Stand with us to fight for a future where all of our families can thrive. Join us today.
Toys ‘R’ Us Financial Assistance Fund
KKR and Bain Capital, former owners of Toys ‘R’ Us, created an independent fund in recognition of the impact that the store closures had on the families of long-time employees. The Fund is administered by a third party, Kenneth Feinberg and Camille Biros. Former Toys ‘R’ Us employees will have opportunities to give input into the protocol that guide how the Fund money should be distributed through a series of conference calls with the Administrators and by submitting comments on the Fund website in coming the weeks. The Fund is structured to allow other firms to contribute, paving the way for Solus, Angelo Gordon, Vornado and others to do their part to support Toys ‘R’ Us families in need.
We encourage all Toys ‘R’ Us team members to participate in the input process and make your voices heard on how the Fund should be allocated. Sign up to attend a conference call with the Administrators here or submit an online comment on the Fund’s official website.
For more information on the Fund, visit www.TRUFinancialAssistanceFund.com or call toll-free (855) 220-3366 (live operators available 9AM - 6PM Eastern Time, Mon - Fri).