Isaac Larian makes $890m bid for Toys R Us
A joint pot from Larian's wallet, bank finance and additional investors has been offered for both TRU's US and Canadian business
The CEO of MGA Entertainment continues his crusade to save Toys R Us in North America, putting forward a $890m bid for both the US and Canadian arm of the bankrupt toy retailer.
Isaac Larian recently launched a crowdfunding campaign aiming to raise $1 billion via GoFundMe in an effort to rally the community around the cause. But he insists now is the time to get the ball rolling as "everyday that goes by, the value of Toys R Us declines and more people lose their jobs".
"I did my part and now it's up to the other side to accept this offer," he added. "If they do, the real work will begin."
The toy boss said he wants to reshape Toys R Us as a "mini-Disneyland", a place where families can spend the entire day and have access to their favourite toys in their own neighbourhood. He stressed that the total collapse of the retailer would leave a catastrophic void in toy retail.
"The liquidation of Toys R Us is going to have a long-term effect on the toy business," he said. "The industry will truly suffer. The prospect of bringing the Toys R Us experience to a new generation, my new grandson's generation, is enough to motivate me to Save Toys R Us."