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Billionaire makes bid to save Toys R Us from closing

16 April 2018

"Every day that goes by, the value of Toys "R" Us declines and more people lose their jobs", he said.

Workforce Staffing acted swiftly once it was confirmed the toy giant's 100 United Kingdom stores were to close - with recruitment consultants matching up staff based at Toys R Us' distribution centre in Coventry with similar jobs in and around the city. Going out of business sales began at all USA stores on March 22.

Larian said he and the other investors joining him in the offer believe the bids represent "a very fair valuation for the properties". If they do, the real work will begin. Commenting on his plans he said, "Imagine a mini-Disneyland in each neighborhood". The entrepreneur is putting forth his best effort to save the retailer, knowing the void it will leave if Toys" R " Us ceases to exist. "The industry will truly suffer".

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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. "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".

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Larian, chief executive of California-based MGA Entertainment Inc., a privately held toy and entertainment company, launched a crowd-funding campaign on March 22 to raise money to keep Toys R Us alive.

Toys" R " Us is an American icon with global relevance and Larian is devoted to saving the retail chain.

Larian's bid may be viewed as tenuous for the viability of the retailer as MGA is considered a competitor to numerous other toy makers whose products would be stocked on the shelves.

Toys R Us announced in March that it would shut down or sell all its U.S. stores but Larian says the liquidation would have a negative impact on the industry. "I want to preserve that innocent experience for future generations".

Billionaire makes bid to save Toys R Us from closing