In 2005, Wall Street private equity firms KKR, Bain Capital, and Vornado Realty Trust bought Toys ‘R’ Us and loaded $5 billions of debt onto the retail company. In 2018, America’s favorite toy store closed down in the third largest retail bankruptcy in U.S. history. More than 33,000 Toys ‘R’ Us employees were thrown into financial crisis without a dime of the $75 million we were owed in severance pay.
But we decided to fight back. We took over 150 actions across 20 states, moved elected officials and pension funds to support our cause, garnered the support of people across the country – and we won a historic $20 million financial assistance fund created by Toys ‘R’ Us’ former private equity owners, KKR and Bain Capital.
Toys ‘R’ Us employees’ call for justice ignited a movement, and we are joining with people impacted by other retail bankruptcies to take on Wall Street billionaires who are destroying our livelihoods and putting our families in harm. We can’t let this happen to more people.