KB Toys Going Out of Business

kbtoys_tnKB Toys has returned to Chapter 11 under Prentice Capital Management, the private-equity firm that bought the retailer out of bankruptcy in 2005. However, this time KB Toys is slated for liquidation.

The company plans to quickly start going-out-of-business sales at hundreds of its stores, "in order to take advantage of the last two weeks of the holiday selling season," KB Toys said in a filing with the U.S. Bankruptcy Court in Wilmington, Del.

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