KKR and Bain Capital, the private equity firms that owned Toys R Us before the company declared bankruptcy earlier this year, said Tuesday that they have each pledged $10 million to create the TRU Financial Assistance Fund, which aims to distribute severance funds to former employees.
The move is unusual for the firms, as they are not required under bankruptcy law to do such a thing.
In a joint statement, KKR and Bain said the fund is being established in response to “an extraordinary set of circumstances” for both of the firms.
“T…
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