MGA in Toys R Us rescue bid
MGA in Toys R US rescue bid
Isaac Larian launches a bid to save TRU
The MGA boss says he and other investors, which he declines to name, are committed to salvaging part of the Toys R Us business for its customers, workers and the toy industry at large. The group is interested in more than half the 735 U.S. stores Toys R Us plans to liquidate, and of course want to continue to use the valuable brand name.
He and the other investors have pledged over $200 million and want to raise another $800 million in order to make a $1 billion bid to acquire "all or some Toys R Us assets through the bankruptcy process." "If there is no Toys R Us, I don't think there is a toy business," he says. Isaac has launched a GoFundMe campaign with the hashtag #SaveToysRUs. Many toy watchers say that in classic Isaac Larian style, the toy maker is also promoting his current toy lines with the crowd funding campaign.
For those who pledge $50 to $99 there is a benefit of a special edition Num Noms toy. While a pledge of $100 to $499 earns donors a Special Edition LOL Surprise toy, and a $500 to $999 pledge sees you a Special Edition Little Tikes Cozy Coupe. The prizes for donations continue to escalate with store naming rights and a star invite to a grand reopening party at your local Toys R Us for a pledge of more than $10 million. Donations are being accepted via GoFundMe at savetoysrus.com. The page lists the first three donations as $200 million from Larian and affiliated investors, $50 from Suzanne Knable, and $5 from Lawrence Murphy.