Liquidation Toys R Us is canceled: the billionaire will invest $ 890 million in the network

Magnat and billionaire Isaac Larian decided to save the Toys R Us chain of stores from being closed in the United States and Canada.

Photo: twitter.com/isaaclarian

Isaac Larian, Executive Director MGA Entertainmentwhich includes brands LOL Surprise !, Little Tikes and Bratz, offered to invest $ 890 million in more than 300 stores of Toys R Us in the United States and Canada.

In a separate message in Twitter Larian wrote that he wanted to save 130 000 jobs, and in a post he tagged Donald Trump.

“No time,” Larry wrote.

14 March it became known that the company will soon close all 100 of its stores in the UK, as well as that Toys R Us ceased to pay money to its suppliers in the US, among which are the largest toy manufacturers in the country.

A group of toy manufacturers led by Isaac Larian 14 March filed an application for the purchase of a Canadian branch network Toys R Uswhich includes the 82 store.

"The business of selling toys without Toys R Us does not exist. This is very important, and I'm going to try to save as many stores as possible, ”he said.

Then he started a fundraising campaign on the website. GoFundMeto try to save Toys R Us, but the campaign collected only about $ 59 000 in three weeks. At the time of this writing, the fees amounted to more than $ 200 thousands of the stated goal of a billion.

Photo: gofundme.com

If Larian’s proposal for an investment of $ 890 million is accepted, funds for the stores will come from his own money, as well as from additional investors and bank financing.

Toys R Us, like many other traditional retailers, faced a loss of customers due to the growing popularity of online stores. This led to the fact that the company was unable to follow its debt obligations.

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