Published • loading... • Updated
Toys 'R' Us Canada Data Sale Highlights Value of Customer Information in Insolvencies
Consumer data is emerging as a lucrative bankruptcy asset, with Google offering US$10 million for Spirit Airlines records and privacy advocates warning of weak oversight.
- When Toys sold its branding to Populum earlier this year, the deal included sensitive Customers' data such as transaction histories and contact information. Populum has not disclosed specific plans for this information or responded to requests for comment.
- Customers' data is often one of the most lucrative assets during insolvencies, allowing firms to acquire established bases without building from scratch. This aspect of business failure is frequently overlooked by the general public.
- Constantine Karbaliotis, counsel at LLP, noted that the Canadian system lacks the transparency seen South of the border. Dina Kovacevic of Insolvency Insider describes this as a growing issue that will become increasingly relevant as different types of information get sold.
- While jurisdictions in the South have intervened in cases involving sensitive genetic data, Canadian Customers have fewer opportunities for involvement. Kovacevic warns that users fear purchasers might use personal information in ways they did not intend.
- Next Century announced last week that it will open Toys departments within Staples Canada locations starting Nov 14. This marks the latest operational shift for the retailer after its insolvency proceedings and branding sale earlier this year.
Insights by Ground AI
8 Articles
8 Articles
Coverage Details
Total News Sources8
Leaning Left7Leaning Right0Center1Last UpdatedBias Distribution88% Left
Bias Distribution
- 88% of the sources lean Left
88% Left
L 88%
12%
Factuality
To view factuality data please Upgrade to Premium
