If, like me, you've already visited Toys "R" Us twice since plans were announced for the brand to liquidate and bought things just so you could support it, there might be good news coming. Don't get started celebrating prematurely, but it looks the chief of MGA Entertainment, Isaac Larian, has a plan in motion that could very well save the toy store chain.
Previously, the businessman behind Bratz had backed a campaign on GoFundMe with $100 million in a bid to get others to help crowdfund a buy for Toys "R" Us. He has since pulled the campaign and going forward with a new plan, which begins with a massive $675 million dollar bid on Friday, where he'd purchase 274 Toys "R" Us stores in the US. Larian could certainly be accused of never wanting to grow up and remaining a Toys "R" Us kid.
In addition to that, Larian put in a $215 million dollar bid to also snap up the 82 stores in Canada, which aren't closing down. That's a ton of money that's going to making sure the Toys "R" Us brand stays alive, and it's coming straight from Larian and his various investors this time around.
"The time is now. Every day that goes by, the value of Toys R Us declines and more people lose their jobs," said Larian. "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."
With a sluggish GoFundMe that only attracted about $60,000, the floundering quest to save the toy brand needed something more, and it looks like this could be the plan Toys "R" Us needs. Granted, according to Larian the entire GoFundMe thing was really just a publicity stunt to get investors interesting to begin with.
If courts agree to these bids, it'll be a long, difficult road to success, but it could mean we don't have to say goodbye to the childhood brand, after all. Who's to say it will be successful after all?
"I like challenges," Larian said. "I have some big, out-of-the-box ideas to save Toys R Us and grow the business if I'm successful in getting Toys R Us assets."
Hopefully no kid has to grow up without the influence of Geoffrey the friendly giraffe during their childhood.
Brittany Vincent posted a new article, Ambitious Toy Mogul Has New Plan to Revive Toys R Us Once And For All
make it happen. Went to my child hood location in San Diego last week during its last 3 days open and it broke my heart. There is really no store like it and the toys aisle in target/walmart does not compare. :( sad face :(
The kind of messed up thing is the Bratz people have been in a no holds barred cage match against Mattel for many years. If they get OK’ed for this degree of vertical integration, stock up now on your favorite Mattel toys, because they would be immediately put in the toy retail choke hold.