Toy company CEO leads effort to salvage part of Toys R Us
Toy company executive Isaac Larian says he and other investors have pledged a total of $200 million in financing and hope to raise four times that amount in crowdfunding to bid for up to 400 of the Toys R Us stores being liquidated.
By ANNE D'INNOCENZIO
AP Retail Writer
NEW YORK (AP) - Toy company executive Isaac Larian says he and other investors have pledged a total of $200 million in financing and hope to raise four times that amount in crowdfunding to bid for up to 400 of the Toys R Us stores being liquidated.
The unsolicited bid faces many hurdles, including finding other investors and getting approval from a bankruptcy judge. But it's the first public plan to keep the cherished toy brand in existence in the United States.
Such a move would also benefit Larian's primary business, as CEO of Bratz doll-maker MGA Entertainment.
Larian says he and the other investors believe salvaging part of Toys R Us will be good for the industry, customers and workers. And they're hoping the affectionate nostalgia for Toys R Us translates into pledges.
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