Toy Mogul Launches New Plan To Save Toys R Us

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

Toys R Us' Australian and Asian divisions have been run as separate entities, with the Asian business operating as a joint venture 15 per cent owned by Hong Kong's Fung Group.

We spent three days on site at Toys R Us, speaking to and registering candidates who wanted to find alternative work.

A lawyer for Toys R Us told a bankruptcy court in the U.S. last week it had received multiple bids of over $US1 billion ($1.29 billion) for the Asian business.

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Isaac Larian, the entrepreneur who made his fortune marketing best-selling toys such as the Bratz dolls, said Friday he has submitted a formal bid to buy Toys R Us stores in the United States and Canada in an effort to keep the iconic retail brand alive. The campaign's goal was for $1 billion so that they could purchase all 735 remaining stores, but it wasn't going to ever reach it. "Every day that goes by, the value of Toys R Us declines and more people lose their jobs", Larian said in a statement. MGA Entertainment's own Little Tikes brand, the maker of the famous Cozy Coup is made right here in the U.S. for the past 50 years. I did my part and now it's up to the other side to accept this offer. "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".

Larian's bid included $215 million for the company's 80 Canadian stores and another $675 million that would, according to a spokesperson for Larian, preserve 200 stores in the U.S. The move follows a crowdfunding campaign led by Larian to raise $1 billion to save the toy store chain that only managed to raise $60,000 beyond Larian's startup donation of $200 million. The consummate entrepreneur, Larian won the Ernst & Young Entrepreneur of the Year award in 2007.

Larian says the liquidation of Toys R Us would have a negative impact on the industry. Larian believes that everyone deserves to be a Toys" R " Us kid.

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