Toys R Us filed for Chapter 11 bankruptcy in 2017 and announced store closings March 15.
“If this is true, it is very disappointing,” Larian said of the report. “We feel confident that we submitted a fair valuation of the company’s U.S. assets.” Larian added that he wants to keep working to save the business.
Credit: Justin Sullivan
Credit: Justin Sullivan
Larian’s company, MGA Entertainment, is known for making Bratz dolls and Little Tikes toys.
Related: CEO of MGA Entertainment makes formal offer to buy Toys R Us
"The liquidation of Toys R Us is going to have a long-term effect on the toy business. The industry will truly suffer," the billionaire said in a statement last week announcing the bid. "The prospect of bringing the Toys R Us experience to a new generation, my new grandson's generation, is enough to motivate me to Save Toys R Us."
At the time, Larian said he would use his own money and financing from banks and other investors for the bid.
Toys R Us is considering other offers, CNN Money reported.
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