KB Gets Authorization for Liquidation

A Delaware bankruptcy judge on Thursday authorized KB Toys to begin going-out-of-business sales.

Judge Kevin Carey granted the company's request after attorneys said they had resolved several concerns of landlords and creditors about rent and other issues.

The Pittsfield, Mass.-based company plans to start liquidation sales Friday, with a targeted end date of Feb. 9.

"I can see no better, other alternative," the judge said. "We're at a time of year where unless the going-out-of-business sales go forward now, there's hardly any sense in doing it."


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