It’s Now Official, Danbury Toys ‘R Us Might be Saved
Just a matter of weeks ago, we told you about a crowd sourced effort that was being waged by a billionaire to save Toys ‘R Us. Toy Industry Executive, Issac Larian was offering a formidable amount of money to add to whatever would have been raised by crowd sourcing to leverage a purchase of the chain before its doors would be shuttered.
Now he has made a certified bid well in advance of the late May 2018 deadline he originally set for this task. He is doing it without the crowd sourced financing.
According to CNN, he’s hoping that $675 Million will be enough to work a deal to purchase a number of the Toys ‘R Us locations in the US, and another $215 for the Canadian stores. He would like to acquire 200 of the US stores and 80 in Canada all together.
The bid was made with his personal funding as well as backing from banks. The billionaire runs MGA Entertainment, the maker of Bratz Dolls, Little Tikes and other toys.