California toy mogul Isaac Larian said Thursday that he is leading an effort to save more than half the 735 domestic Toys R Us stores that are set to close under the retailer's liquidation plan. Larian is majority owner and chief executive of MGA Entertainment Inc., a privately held toy maker based in Van Nuys whose lineup also includes Little Tikes products.
"Assuming it raises the $1-billion total for U.S. stores, Larian's group first would have to strike a deal with Toys R Us to acquire the stores and then submit that proposal to the court for approval" said RK&O partner Gregory Plotko. "The court also would hear any objections to the deal, and Larian's group and Toys R Us would have to persuade the chain's creditors that what he's offering is a better alternative than a straight inventory liquidation."
Bratz dolls maker's CEO leads bids to save hundreds of Toys R Us stores - Los Angeles Times