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A billionaire just bid $890 million to save Toys R Us

The billionaire toy tycoon Isaac Larian has made a last-minute effort to save Toys R Us from going out of business.

  • Isaac Larian, the CEO of the toy company MGA Entertainment, on Friday bid $890 million for more than 300
  • "OK. I followed through on my part," Larian wrote on LinkedIn late Thursday. "Now it's up to them to accept. Time is of the essence."
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Larian, the CEO of the toy company MGA Entertainment, on Friday bid $890 million for more than 300 Toys R Us stores in the US and Canada.

"OK. I followed through on my part," Larian wrote on LinkedIn late Thursday. "Now it's up to them to accept. Time is of the essence."

In a separate post on Twitter, Larian said he wanted to save 130,000 jobs, and he tagged President Donald Trump's Twitter handle.

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"Not much time is left," Larian wrote.

Larian previously started a campaign on the crowdfunding website GoFundMe to try to save Toys R Us, but the campaign raised only about $59,000 in three weeks.

If Larian's bid is accepted, the funds for the stores will come from his own money as well as from additional investors and bank financing.

Toys R Us recently began liquidating its more than 700 stores in the US after efforts to restructure the business through bankruptcy failed.

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