(WHDH) — Toys ‘R’ Us turned down a bid from a billionaire CEO hoping to save the company.
Isaac Larian, the toy maker behind Bratz dolls and Little Tikes, placed a $675 million bid for 200 of the remaining 735 Toys ‘R’ Us locations in the United States and most of the 80 locations in Canada.
Larian called reports of the company rejecting his offer “disappointing.”
Toys ‘R’ Us filed for bankruptcy last fall and announced in March it would close or sell all its U.S. stores.
Larian tried to raise $1 billion to save the the stores through a crowdfunding campaign. His vision was to turn Toys ‘R’ Us into an entertainment mecca for families.
The toy company is still considering other offers, but it’s unclear if those bids would keep the U.S. stores open.
(Copyright (c) 2024 Sunbeam Television. All Rights Reserved. This material may not be published, broadcast, rewritten, or redistributed.)