Billionaire Toy Tycoon Bids $890 Million To Save Toys "R" Us

Billionaire Toy Tycoon Bids $890 Million To Save Toys

Billionaire Toy Tycoon Bids $890 Million To Save Toys "R" Us

Larian has offered $675 million for US stores and $215 million for Canadian stores, MGA said in a statement.

The head of toy giant MGA Entertainment Inc. says he and other investors have put in a $1.1 billion bid for Toys "R" Us stores in Canada and the U.S. "I did my part and now it's up to the other side to accept this offer".

MGA said the funds for the purchase will come from Larian's own coffers, additional investors and bank financing.

A local woman's boss is getting a lot of attention for a rendition of the Toys "R" Us jingle that adds in a new twist now that the company is going out of business.

Larian is looking to buy more than 200 of the remaining 735 locations in the U.S., and nearly all of more than 80 locations in Canada, a spokesperson said.

Isaac Larian, the billionaire who the company behind Little Tikes, Bratz and L.O.L. Surprise! toys, says the toy industry will "truly suffer" if Toys R Us goes under.

Larian's vision for Toys "R" Us includes turning its stores into entertainment hotspots.

However, Larain says the liquidation of Toys "R" United States would have a negative impact on the toy industry.

Toys "R" Us announced early in March that they were planning to close all 735 stores and liquidate their inventory.

The case is Toys "R" Us, 17-34665, U.S. Bankruptcy Court, Eastern District of Virginia (Richmond).

Larian also led a crowdfunding effort through GoFundMe to raise $1 billion in an effort to buy the iconic toy retailer.

"Imagine a mini-Disneyland in each neighborhood", Larain explained.

Anthony Martial Unhappy over Game Time Amid PSG, Juventus Interest
California Rescuers Find Items Belonging to Missing Family