Kirkland advises Toys R Us as retailer secures pensions deal to avoid Christmas collapse

Company voluntary agreement saves toy retailer from administration

Kirkland & Ellis has advised Toys R Us on a deal with the Pension Protection Fund (PPF) that has today (21 December) saved the company from administration.

The company voluntary agreement (CVA) will see the toy retailer’s pension deficit recovery plan reduced from 15 years to ten years, with £3.8m injected into the pension scheme in 2018 and a further £6m promised over 2019 and 2020. The agreement was accepted in a creditor vote this morning.

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