Published: Fri, April 13, 2018
Business | By Kate Woods

Billionaire CEO behind Bratz makes his bid for Toys 'R' US

Billionaire CEO behind Bratz makes his bid for Toys 'R' US

Nonetheless, the businessman has said he will still submit a $675 million bid to purchase 274 Toys "R" Us stores, and a separate $215 million bid to buy 82 Canadian locations, according to the Times.

The head of USA toy company MGA Entertainment Inc. revealed Friday that he has made a formal bid to acquire the Toys "R" Us stores in both Canada and the United States.

A "Going Out Of Business" sign hangs over the Toys R Us store logo in Omaha, Neb., Monday, April 9, 2018.

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During its heyday, commercials for the stores would often end with the phrase "I want to be a Toys "R" Us kid!" "The industry will truly suffer".

The company's Canadian operations are run separately from its USA dealings, but Toys "R" Us CEO David Brandon has said the company will try to bundle its Canadian business with about 200 USA stores as it looks to find a buyer.

The case is Toys "R" Us, 17-34665, U.S. Bankruptcy Court, Eastern District of Virginia (Richmond). The crowdfunding effort was designed only to raise awareness, she said.

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Larian is offering US$675 million for the USA stores and US$215 million for the outlets in Canada, he said Friday in a statement. If Larian does win the bid, he says he plans to remake the stores as a fun and engaging place where families can spend the day.

Larian's bid includes his own funding, bank financing, outside investors and the crowdfunding campaign.

"Imagine a mini-Disneyland in each neighborhood", he said.

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