Zany Brainy to Restructure

King of Prussia, PA–Toy cataloger/retailer Zany Brainy has signed a restructuring agreement in the wake of its March 15 filing for Chapter 11 bankruptcy protection. The company signed the agreement pursuant to which Waterton Management LLC or its affiliates have agreed to provide the company with approximately $115 million. While the Official Committee of Unsecured Creditors has indicated its support for the proposed transaction, the agreement is still subject to bankruptcy court approval.

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