Toys R Sold

Consolidated Stores Inc. (Columbus, Ohio) has signed a letter of intent to sell its KB Toy unit, the second-largest (after Toys R Us) toy retail chain in the country. Neither the buyer nor the price were announced, but the closeout retailer did suggest that current KB Toy management will be involved. Consolidated Stores said it would take a charge of up to $400 million in its fiscal third quarter as part of the sale.