A Toys R Us store is seen in Hayes, Britain, on Dec. 2. (Peter Nicholls/Reuters)With the holiday shopping season approaching and bankruptcy proceedings underway in federal court, Toys R Us went to its creditors in November with an unorthodox request. To boost sales, the insolvent company asked: Let us pay out millions of dollars in bonuses to our top executives. Under the plan, Toys R Us will pay 17 executives about $14 million in incentive bonuses, as long as the company hits its target of $550 million in earnings. “Apparently, this Christmas, Toys ‘R’ Us intends to deliver not only ‘children their biggest smiles of the year’ but the insiders, too,” her Nov. 28 objection read.
Source: Washington Post December 07, 2017 11:28 UTC