There’s still a chance there may be future generations of Toys R Us kids. Billionaire CEO Isaac Larian announced on Friday that he has put in a formal bid of $675 million to buy a number of the company’s U.S stores, as well as $215 million to buy the locations in Canada.
He will use his own money, funds from additional investors and bank financing to make the purchase, according to a news release.
Larian, who owns MGA Entertainment which is best known for producing toys such as Bratz dolls, said in the release that the Toys R Us closure “will have a long-term effect on the toy business,” and that it will cause the toy industry to “suffer.”
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