Toys R Us destroyed by “vultures” says MGA boss

MGA is one of the toy industry’s biggest firms, responsible for such blockbuster toys as Bratz and recent collectable phenomenon L.O.L. Surprise.

The company’s president and CEO, Isaac Larian has long been a great supporter of Toys R Us, stating in the past that "there is no toy business without Toys R Us." Now that the UK arm of the retail chain has entered into administration, Larian has some harsh words for the people he feels are to blame for Toys R Us’ collapse.

"The UK news on TRU is very sad and heartbreaking," begins Larian. "I cannot imagine toy business without Toys R Us. If Toys R Us goes out in the USA, I don’t see any other retailer taking that business." 

When asked what has led the retailer to this outcome Larian cites "vultures" behind the scenes.

"Toys R Us was destroyed by greedy hedge funds who milked every penny out of it and, whatever is left, is being sucked out by lawyers and ‘advisers’ and administrators and trustees. I call this group vultures," he continues.

"Other retailers simply don’t have the room to support what Toys R Us offers. This will Have devastating effect for the whole toy industry and will limit product innovation."

There is still time for an administrator to salvage the whole or parts of Toys R Us’ business in the UK, but as it stands it looks likely that the chain’s 105 UK stores may close, axing up to 3200 jobs. Toys R Us’ US business filed for bankruptcy in September 2017.

"It’s very sad," Larian laments. "Toys R Us brand is very very valuable. I hope someone with long-term vision sees that and buys before it’s too late."

About Robert Hutchins

Robert Hutchins is the editor of Licensing.biz and ToyNews. Hutchins has worked his way up from Staff Writer to the position of Editor across the two titles, having spent almost eight years with both ToyNews and Licensing.biz, and what now seems like a lifetime surrounded by toys. You can contact him by emailing robert.hutchins@biz-media.co.uk or calling him on 0203 143 8780 You can even follow him on Twitter @RobGHutchins if ranting is your thing...

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