Isaac Larian puts in official bid to save Toys"R"Us with $675 million
The funds to purchase both the U.S. and Canadian stores will come from Larian's own coffers, additional investors and bank financing.
Larian recently led the biggest crowdfunding effort to date, aiming to raise $1 billion via GoFundMe in an effort to rally the community around the cause. Bid amounts were determined after careful due diligence by Larian, speaking with multiple investors and 3rd party experts.
"The time is now. Everyday that goes by, the value of Toys"R"Us declines and more people lose their jobs. 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. We will make Toys"R"Us an experience in and of itself; a fun and engaging place where families can spend an entire day. Imagine a mini-Disneyland in each neighborhood," shared Larian.
"The entrepreneur is putting forth his best effort to save the retailer, knowing the void it will leave if Toys"R"Us ceases to exist. "The liquidation of Toys"R"Us is going to have a long-term effect on the toy business.
"The industry will truly suffer. The prospect of bringing the Toys"R"Us experience to a new generation, my new grandson's generation, is enough to motivate me to Save Toys"R"Us." ■