April 27, 2018 / 11:19 PM / 10 months ago

U.S. trustee objects to another investment banker for Toys 'R' Us

The government’s bankruptcy watchdog on Friday objected to Toys “R” Us Inc hiring Consensus Advisory Services LLC and Consensus Securities LLC to provide investment banking services for the sale of its intellectual property, arguing Lazard Freres & Co LLC already is helping the retailer market its assets.

The U.S. trustee in court papers objected to the application by Toys “R” Us to retain Consensus because the toy-store chain, once the largest such U.S. business, already has a platoon of professionals on its Chapter 11 bankruptcy case, which marks the largest-ever U.S. retail liquidation.

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