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November 21, 2018

Former Toys R Us workers to get $20M

By ANNE D'INNOCENZIO
AP Retail Writer

NEW YORK — Two private equity owners of the iconic Toys R Us toy chain will be handing over a $20 million hardship fund to the thousands of former workers left jobless and without severance after the chain liquidated in June.

The move by KKR and Bain Capital announced Tuesday is aimed at helping the 30,000 workers affected by the store closures and comes following efforts by worker-backed groups. The fund wasn't legally required and the groups call the move “unprecedented” to help families caught in the crossfires of a slew of retail store closures and bankruptcies in a fast-changing retail industry.


 
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