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Nostalgia hasn't translated into dollars in Toys R Us effort

Nostalgia hasn't translated into dollars in Toys R Us effort

The would-be rescuer is the chief executive officer of MGA Entertainment Inc., which sells toys including Little Tikes, Bratz and L.O.L. Surprise!

Isaac Larian said Friday that he's entered a formal offer of $675 million to buy numerous Toys "R" Us stores in the United States, along with an additional $215 million for Toys "R" Us stores in Canada.

During its heyday, commercials for the stores would often end with the phrase "I want to be a Toys "R" Us kid!"

However, Larain says the liquidation of Toys "R" United States would have a negative impact on the toy industry. "The industry will truly suffer", Larian said. Isaac Larian said Thursday he's disappointed but still plans to formally submit a bid this week for more than 300 stores in the USA and Canada.

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In the past, Larian has blamed the demise of Toys "R" Us on its private equity owners, which saddled the company with debt. Larain would use a combination of his own money, financing and investors to foot the bill. He also says he'll pay an additional $215,000,000 for more than 80 Canadian stores. It unveiled plans in March to close or sell its 735 stores across the USA, including its Babies "R" Us stores. A representative for Toys "R" Us didn't immediately respond to a request for comment.

Toys R Us' troubles have already shaken some big toy makers like Mattel and Hasbro.

The company filed for bankruptcy in September, hoping to shed debt and turn around the business, but after dismal sales during the holiday season, it opted to liquidate instead.