KB Toys: bankruptcy court dismisses company's Chapter 11 cases

By Lisa Kerner

Charlotte, N.C., Feb. 17 - KB Toys, Inc.'s Chapter 11 cases were dismissed, according to a Tuesday filing with the U.S. Bankruptcy Court for the District of Delaware.

As previously reported, KB Toys and its official committee of unsecured creditors had their settlement with lenders PKBT Lending LLC, PKBT Funding LLC and Prentice Capital Management, LP approved by the court.

In addition, the court approved all distribution and dismissal procedures.

KB Toys, a Pittsfield, Mass., mall-based toy retailer, filed for bankruptcy on Dec. 11, 2008. Its Chapter 11 case number is 08-13269.

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