Toys 'R' Us stores in Canada, USA draw $890M bid

A closed Toys 'R' Us store is seen near York

A closed Toys 'R' Us store is seen near York

Nonetheless, the businessman has said he will still submit a $675 million bid to purchase 274 Toys "R" Us stores, and a separate $215 million bid to buy 82 Canadian locations, according to the Times.

Larian's vision for Toys "R" Us includes turning its stores into entertainment hotspots.

Toys "R" Us announced early in March that they were planning to close all 735 stores and liquidate their inventory.

Larian is looking to buy more than 200 of the remaining 735 locations in the U.S., and nearly all of more than 80 locations in Canada, a spokesperson said.

The company drew multiple offers of over US$1 billion for its Asian business, a lawyer for Toys "R" Us said Wednesday in bankruptcy court.


Toys R Us recently began liquidating its more than 700 stores in the U.S. after efforts to restructure the business through bankruptcy failed.

The company said in March that it would shut or sell all its USA stores after a failed turnaround bid.

"Everyday that goes by, the value of Toys "R" Us declines and more people lose their jobs". Larian, who had said he would use his own money for the bid, said he was baffled and said they were public companies thinking about the short term. If Larian does win the bid, he says he plans to remake the stores as a fun and engaging place where families can spend the day.

"Imagine a mini-Disneyland in each neighborhood", Larain explained.

Larian, CEO of privately held MGA Enterprises that makes the popular LOL Surprise dolls, said other toy companies initially were interested in joining the crowdfunding effort but backed down.

Recommended News

  • Father who flung his daughter off shack roof to be charged

    Father who flung his daughter off shack roof to be charged

    Pladl, 42, and his daughter Katie Pladl, 20, were both charged with incest after she gave birth to their son in September 2017. Katie Pladl, 20, was Steven's biological daughter and mother to their 7-month-old child, Bennett, Knightdale police said.
    Sports reporter falls into swimming pool during interview

    Sports reporter falls into swimming pool during interview

    Back in the BBC Breakfast studio, the presenters Charlie Stayt and Louise Minchin weren't shy about showcasing their reactions. The BBC Breakfast sports reporter has gone viral after falling into a pool on live TV, during an interview.
    Hamilton edges Raikkonen in practice

    Hamilton edges Raikkonen in practice

    A mere 0.108 seconds separated the top four in Friday's practice. The session will be broadcast live on Star Sports Select 2 HD. Hopefully [we can make] another step for tomorrow".
  • JPMorgan, Citigroup and Wells Fargo Report First-Quarter Results

    JPMorgan, Citigroup and Wells Fargo Report First-Quarter Results

    Hellman Jordan Management Company Inc sold 3,000 shares as the company's stock rose 25.63% while stock markets declined. (NYSE:C). On Tuesday, January 2 the rating was maintained by Barclays Capital with "Buy". $542,920 worth of Citigroup Inc .
    VW Group appoints Herbert Diess as new CEO

    VW Group appoints Herbert Diess as new CEO

    The world's largest vehicle manufacturer is trimming its brands as it prepares for the autonomous and electric markets. It would also prepare its Truck & Bus division for a future stock market listing after 2018.
    Tech billionaire Claims his plan to break up California

    Tech billionaire Claims his plan to break up California

    If the proposal passes, the Bay Area, along with counties north of Merced, would be considered as Northern California. Draper's plan would split the nation into Northern California, Southern California and California.
  • Police officer shot and killed serving warrant in Cape Cod town

    Police officer shot and killed serving warrant in Cape Cod town

    The unidentified suspect had been barricaded in the home for hours before finally surrendering to law enforcement. Mary's All Saints Catholic School in New Bedford and later Bishop Stang in Dartmouth where he played tennis.
    May and Trump agree use of chemical weapons must not go unchallenged

    May and Trump agree use of chemical weapons must not go unchallenged

    Trump is now weighing a response to the alleged chemical attack, which he has blamed on Syrian President Bashar Assad. The White House says it is continuing to assess intelligence and talk to its allies on how to respond.
    Europa League 2018 semi-final draw in full: Arsenal face Atletico

    Europa League 2018 semi-final draw in full: Arsenal face Atletico

    However, in a week of dramatic comebacks, the Premier League side suffered a first-half wobble before securing a 2-2 draw. Speaking to reporters ahead of Sunday's clash with the Londoners, he said: "It's an important thing for us to stay up".
  • Jaguar Land Rover to Cut 1000 Jobs

    Jaguar Land Rover to Cut 1000 Jobs

    Latest employee figures say there are 3,200 people employed at the Castle Bromwich site and a further 10,000 at Solihull. It now has around 40,000 employees, 10,000 of which are located at its manufacturing plant in Solihull.
    Wounded protester succumbs to wounds in Gaza

    Wounded protester succumbs to wounds in Gaza

    Islam Herzallah, 28, was shot by Israeli troops east of Gaza City and transported to a hospital where he died, the ministry said. The death brought to 28 the number of protesters killed in two weeks, with hundreds wounded by Israeli fire since March 30.
    Colin Kaepernick legal team set to depose Roger Goodell in collusion case

    Colin Kaepernick legal team set to depose Roger Goodell in collusion case

    He was signed by the Jacksonville Jaguars in 2014 and has also spent time with the Philadelphia Eagles, Indianapolis Colts. The Seahawks have signed 25-year-old backup quarterback Stephen Morris , who has never taken a snap in the NFL.

We are pleased to provide this opportunity to share information, experiences and observations about what's in the news.
Some of the comments may be reprinted elsewhere in the site or in the newspaper.
Thank you for taking the time to offer your thoughts.