Thursday, April 19, 2018

Toys ‘R’ Us rejects bid from toy mogul

Chain Store Age

A last-minute bid by a billionaire toy tycoon to keep some Toys “R” Us stores up and running has fallen flat.

The retailer rejected an offer from Isaac Larian, founder and CEO of toy maker MGA Entertainment Inc., to buy 274 U.S. Toys “R” Us stores, reported CNN Money. The $675 million bid reportedly was too low.

The funds to purchase the stores would have come from Larian’s own coffers, additional investors and bank financing, the privately held MGA stated.. . . more