The Wall Street Journal reported that bankrupt retailer Toys “R” Us has reached a settlement with a group of lenders that will protect the company from future litigation.
According to the Journal, vendors and other creditors will receive a cash payment and possibility return recoveries.
In return, the Journal reported, unsecured creditors and vendors will agree to give up their right to sue the lender group that decided to pull the plug on the company’s Chapter 11 filing and liquidate the business.