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Little Tikes Genius Bids For Toys R Us

Billionaire Isaac Larian, the CEO of toymaker MGA Entertainment that owns Little Tikes and Bratz dolls, has put in a formal bid of about $900 million to save Toys "R" Us stores from liquidation after his crowdfunding attempt failed.

Larian is offering $675 million to buy the U.S stores as well as $215 million to buy the Toys"R"Us stores in Canada. The funds to purchase both the U.S. and Canadian stores will come from Larian's own coffers, additional investors and bank financing.

Larian had attempted to raise $1 billion via GoFundMe, but secured only $59,000 in three weeks.

"The time is now. Everyday that goes by, the value of Toys"R"Us declines and more people lose their jobs. I did my part and now it's up to the other side to accept this offer. If they do, the real work will begin. We will make Toys"R"Us an experience in and of itself; a fun and engaging place where families can spend an entire day. Imagine a mini-Disneyland in each neighborhood," Larian said.

"The liquidation of Toys"R"Us is going to have a long-term effect on the toy business. The industry will truly suffer. 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."

Toys "R" Us had filed for bankruptcy in September 2017, and announced in March that it would close all of its U.S. stores.

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