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

Saffy  Flickr  CC  Cropped

Larian is chief of MGA Entertainment and put up $100 million in that original GoFundMe to try and save the company. "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".

A spokesperson for Larian told CNN that the toy mogul is eying the purchase of 200 stores in the USA and the majority of the ones in Canada. There are about 800 Toys R Us stores closing in the U.S.

A lawyer for Toys R Us told a bankruptcy court in the United States last week it had received multiple bids of over $US1 billion ($1.29 billion) for the Asian business.

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In a statement, released at the end of last week, Workforce Staffing revealed it acted swiftly once the closure of Toys R Us UK stores was confirmed - with its recruitment consultants matching up staff based at the Toys R Us distribution centre in Coventry with similar jobs in and around the city. There are 735 locations remaining in the U.S. "Every day that goes by, the value of Toys "R" Us declines and more people lose their jobs", he said.

Though offers over $1 billion have been received for the bankrupt retailer's Asian business, it's unknown whether other parties are interested in its North American assets. Bid amounts were determined after careful due diligence by Larian, speaking with multiple investors and 3rd party experts. "The industry will truly suffer". As the Associated Press and others have reported, MGA, maker of Bratz dolls and L.O.L. Surprise!, relies on Toys R Us for around 20% of sales.

Larian's vision for Toys "R" Us includes turning its stores into entertainment hotspots. Commenting on his plans he said, "Imagine a mini-Disneyland in each neighborhood". The consummate entrepreneur, Larian won the Ernst & Young Entrepreneur of the Year award in 2007. Toys R Us declared bankruptcy in September and then announced the closure of its stores in March. Larian believes that everyone deserves to be a Toys" R " Us kid.

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