Toy magnate makes $890 million bid for Toys ‘R’ Us

LOS ANGELES — Isaac Larian, owner of MGA Entertainment, submitted last week an offer of $675 million for 274 of the Toys ‘R’ Us stores in the U.S., in addition to $215 million for 82 Canadian outlets. Larian had just three weeks prior initiated a GoFundMe campaign to raise revenue to save hundreds of U.S. stores under the banner, but he has now abandoned the campaign. Instead his bid is partly self-funded, with the rest coming from investors and banks. A spokesperson confirmed that Larian, who has acknowledged the GoFundMe campaign was a publicity stunt, will not use any of the small donations generated through it in his bid.