Toyworld magazine have reported today that MGA Entertainment CEO has put in an offer to save Toys R Us.
The Article states:
Isaac Larian confirms that he has put in a formal bid of $675m to buy both the US stores as well as $215m to buy the Toys R Us stores in Canada. The funds to purchase both the US and Canadian stores will come from Isaac’s own coffers, additional investors and bank financing.
There is also a heartfelt quote from the entrepreneur:
“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.”
You can read the full article here
So does this mean that there is light at the end of the tunnel? – lets hope so as it could mean a new chance for the 1000’s of people whose jobs are affected by the troubles of the Toy giant.