Toys R Us Ch. 11 Landlord Deal Could Be Model for Retailers
In a grand bargain covering some attorney fees for its commercial landlords, Toys R Us Inc. bought more time to decide which store leases it wants to reject in bankruptcy, creating what some experts say could be a practical template for other large retailers abruptly forced into filing for Chapter 11.
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Ira Herman of Blank Rome LLP, who called the deal a win-win for both sides, explained that the marketplace reality at this time also makes the trade-off more appealing for landlords since the demand for large retail spaces is in decline and new tenants are becoming difficult to find.
“It’s a template that makes sense in other cases,” he said. “It’s likely that landlords will be looking for similar types of deals.”
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"Toys R Us Ch. 11 Landlord Deal Could Be Model for Retailers," by Alex Wolf was published in Law360 on January 31, 2018.