It's Now Official, Danbury Toys 'R Us Might be Saved

Toy mogul Isaac Larian ditches GoFundMe campaign and bids $890 million for Toys R Us stores

A spokesman for Toys R Us Australia did not respond to requests for comment.

In a statement, released at the end of last week, Workforce Staffing revealed it acted swiftly once the closure of Toys R Us UK stores was confirmed - with its recruitment consultants matching up staff based at the Toys R Us distribution centre in Coventry with similar jobs in and around the city. The company said in March it would shut or sell all its US stores. If they do, the real work will begin.

Previously, Larian tried to raise $1 billion to save Toys "R" Us through a crowdfunding campaign. "The industry will truly suffer", he said in a statement.

The CEO of MGA Entertainment - which produces children's toys and sells about a fifth of them in Toys R Us - said in a statement that he entered a "formal bid" to buy the Canadian and USA locations for a combined price of $890 million. "Imagine a mini-Disneyland in each neighborhood", shared Larian. "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".


The breakdown of the U.S. Bankruptcy Court bid by MGA is $675 million to buy 274 Toys "R" Us stores and obtain exclusive ownership of the brand name and files.

Toys R Us has a six-day period to accept or decline the offer, Larian told NorthJersey.com in an interview. The billionaire runs MGA Entertainment, the maker of Bratz Dolls, Little Tikes and other toys. The consummate entrepreneur, Larian won the Ernst & Young Entrepreneur of the Year award in 2007.

Larian had announced two months ago that he would use GoFundMe crowdsource financing to raise the cash for a $1 billion customer takeover fund of Toys "R" Us, but the effort collapsed after 22 days with 1,955 donors contributing just $59,000. "I want to preserve that innocent experience for future generations".

MGA is believed to have sold about 20 percent of its product line sales through the North American Toys "R" Us divisions, so it would seem that that keeping the channel alive could be very valuable to MGA.

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