The head of the company that created Bratz dolls and Little Tikes sees a future Toys R Us that lives on past the company’s expected liquidation.
MGA Entertainment Inc. Chief Executive Officer Isaac Larian said he has personally put forward roughly $100 million to help buy the toy store company’s assets and expects 200 to 400 U.S. stores can be saved.
“There is a lot of value in the Toys R Us name, a lot of value in all the assets that they have,” Larian said in an interview on Bloomberg Television. “If Toys R Us is not here, I think the toy business as a whole will have a devastating year — this year and the following year.”
Larian’s push to help the toy retailer survive liquidation includes a bid that MGA and a group of investors made for the Canadian assets of Toys R Us last week. Outside of MGA, Larian and other investors launched a campaign on GoFundMe for the purchase of assets from the company. Their goal is to raise $1 billion by Memorial Day.