Could ToysRUs Survive?
It will if kid-at-heart Isaac Larian has anything to say about it! With hopes of saving the ToysRUs brand, the chief executive of MGA Entertainment (maker of the Little Tikes brand), made a whopping $675 million bid on Friday, April 13th, to save 274 U.S. ToysRUs stores. And he made another $215 million bid to acquire 82 stores in Canada.
As we shared a few weeks ago, Larian launched a $1 billion GoFundMe campaign to save hundreds of ToysRUs stores in the U.S. and Puerto Rico. The campaign was not as successful as he had hoped (he only raised roughly $60,000 from 2,000 pledges), but the successful businessman has already personally pledged $100 million, with another $100 million coming from other undisclosed, large investors.
“I like challenges. I have some big, out-of-the-box ideas to save ToysRUs and grow the business if I’m successful in getting ToysRUs assets.” – Isaac Larian
If Larian’s bids are approved, he says he wants ToyRUs to be as interactive and as kid-friendly as a theme park — a place where children can play and try out new toys. It sounds intriguing, but what are your thoughts?
Do YOU think ToysRUs will bounce back?