- Billionaire toy marketer Isaac Larian offered to save Toys “R” Us from liquidation with an almost $900 million bid for its stores in the U.S. and Canada that relies in part on crowdfunding.
Larian is offering $675 million for the U.S. stores and $215 million for the outlets in Canada, he said Friday in a statement. The funds will come from Larian himself, other investors and bank financing. A representative for Toys “R” Us didn’t immediately respond to a request for comment.
The would-be rescuer is the chief executive officer of MGA Entertainment Inc., which sells toys including Little Tikes, Bratz and L.O.L. Surprise! Larian previouslystarted a GoFundMecampaign to help keep Toys “R” Us open, with the page showing pledges of about $200 million.
Source: Toys ‘R’ Us Gets 11th-Hour Bid From Little Tikes’s Larian – Bloomberg