- 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."
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.
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.
"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.