The billionaire hoping to save Toys R Us is giving up on reaching a deal.
Isaac Larian offered $675 million in April for 200 of the toy chain’s remaining stores in the United States and more than 80 locations in Canada. Toys R Us rejected his initial offer, saying it was too low.
The CEO of Bratz dolls and Little Tikes dropped the Canadian stores from the pitch in an effort to save the U.S. locations and jobs. However, Larian confirmed Monday that the sale isn’t going to happen.
Toys R Us has not commented on the latest developments.
The toy company filed for bankruptcy in September and in March announced the closure of all 735 U.S. stores.
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