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Cake day: June 15th, 2023

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  • Toys R Us closing down was not really a natural bankruptcy. It was cannibalized by vulture capitalists via a leveraged buyout that made it financially responsible for its own purchase which was a debt it was unable to pay. Conjecture here but this was probably done exclusively for its real estate. The ownership of the land on paper is probably inflating some portfolio more than it would be worth to actually sell it so it sits unoccupied.