Toy Seller Basic Fun Nears Deal to Restructure Balance Sheet

Toy seller Basic Fun Inc. is nearing a deal with its lenders and private equity backer, Falcon Structured Equity Partners LP, to restructure its balance sheet after filing Chapter 11 earlier this week.

• Basic Fun lawyer Mark Joachim said during a Tuesday bankruptcy hearing that Basic Fun and its financial backers are close to reaching an agreement in principle on a transaction that would restructure the company’s capital structure
  • Boca Raton, Fl.-based Basic Fun struggled following the closing of Toys R’ Us, which had been its largest customer, and as a result of the Covid-19 pandemic, according to court ...