CEO of toy company in longshot effort to save Toys ‘R’ Us
The chief executive of MGA Entertainment, whose products includes Bratz dolls, is leading an effort to keep Toys “R” Us afloat.
Isaac Larian and other investors have pledged $200 million and hope to raise four times that amount in crowdfunding in an effort to keep potentially more than half of Toys “R” Us’ stores from going dark, CNBC reported. Larian, a billionaire, is using his own money for the effort, according to the report, which also noted that almost one in every five sales made by MGA Entertainment, occurs at a Toys “R” Us store.
Toys “R” Us announced last week that it planned to liquidate or sell its stores. At the time, the retailer said it was trying to put together a deal for its Canadian operations and about 200 U.S. stores. According to CNBC, Larian has personally aligned with another investor in a separate bid for those operations.
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Isaac Larian and other investors have pledged $200 million and hope to raise four times that amount in crowdfunding in an effort to keep potentially more than half of Toys “R” Us’ stores from going dark, CNBC reported. Larian, a billionaire, is using his own money for the effort, according to the report, which also noted that almost one in every five sales made by MGA Entertainment, occurs at a Toys “R” Us store.
Toys “R” Us announced last week that it planned to liquidate or sell its stores. At the time, the retailer said it was trying to put together a deal for its Canadian operations and about 200 U.S. stores. According to CNBC, Larian has personally aligned with another investor in a separate bid for those operations.
Click here to read more.