March 12, 2020
Toys ‘R’ Us CEO executives lined their pockets with company funds on the eve of the troubled retailer’s 2017 bankruptcy — to the tune of $16 million, an explosive new lawsuit claims. Days before the company behind Geoffrey the Giraffe filed for bankruptcy protection in September 2017, chief executive David Brandon and other Toys ‘R’ Us execs scored bonuses that boosted their total pay by 75 percent, the lawsuit said. Brandon pocketed $2.8 million, the suit claims. By contrast, the toy seller’s vendors barely received 20 cents on the dollar in the company’s bankruptcy. The New York State lawsuit was filed Thursday by a group of creditors dubbed the TRU Creditor Litigation Trust. They are seeking $1.1 billion in damages, claiming a fraudulent scheme to bilk them out of billions.