Toy Maker Plans Toys 'R' Us Bid After Longshot Crowdfunding Campaign


Isaac Larian, the chief executive of MGA Entertainment Van Nuys, put in an $890 million bid Friday to purchase Toys R Us stores in the USA and Canada. "Now it's up to them to accept".

A Twitter photo publicized by the police department even showed a Toys R Us sign that had been painted over so it read, "Raves R Us".

The bid includes $675 million to buy the U.S stores as well as $215 million to buy the Toys R Us stores in Canada.

"OK. I followed through on my part", Larian wrote on LinkedIn late Thursday. Toys R Us an American toy retailer headquartered in New Jersey, USA. He will finance the bids using his own money, supplemented by bank and investor financing, the Times adds.

Toys "R" Us had filed for bankruptcy in September 2017, and announced in March that it would close all of its USA stores.

Larian has also had about $252 million to date committed through a crowdfunding effort aimed at raising $1.3 billion to keep stores open, but the campaign doesn't cover Canadian stores. "Everyday that goes by, the value of Toys "R" Us declines and more people lose their jobs", Larian said in a statement.

In the statement, Larian said he plans to reinvent the stores into a "mini-Disneyland" where "families can spend an entire day". "The toy industry is going to suffer".

Based in Van Nuys, Calif., MGA Entertainment owns the Bratz, Little Tikes and Num Nums brands. I wanted to stay a Toys "R" Us kid.