MGA Entertainment has submitted a bid for the Canadian operations of Toys R Us in an attempt to rescue a partial division of the retailer from liquidation.
Reports have emerged that MGA Entertainment’s CEO, Isaac Larian submitted a bid for the Canadian stores, stating that “Toys R Us Canada is good business.”
In a brief emailed statement, Larian said: “They run it efficiently, and have good leadership. At the right price, it makes economical sense.”
That price has not been detailed and MGA has refused to expand on just how much money it has to bid with. However, it is the latest move in Larian, CEO of the company behind the likes of LOL Surprise, Little Tikes and Num Noms’ mission to help soften the blow of a liquidation of Toys R Us’ entire operations.
Meanwhile, the UK branch of Toys R Us announced it would shutter all 75 locations in the country, while US CEO David Brandon told the company’s workers that its plans to file liquidation papers Wednesday evening and sell or close all its US locations.