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Despite failed crowdfunding effort, billionaire continuing with Toys "R" Us bid

Despite failed crowdfunding effort, billionaire continuing with Toys

Previously, Larian tried to raise $1 billion to save Toys "R" Us through a crowdfunding campaign.

Toys R Us' Australian and Asian divisions have been run as separate entities, with the Asian business operating as a joint venture 15 per cent owned by Hong Kong's Fung Group.

According to a statement released by MGA Entertainment, which is the toymaker of Little Tikes, Bratz dolls, and Lalaloopsy dolls, the funds to buy Toys "R" Us stores will come from a combination of Larian's own wealth, investments from additional investors and through bank financing.

Around 40 candidates were signed up by Workforce Staffing, which has found jobs for Toys R Us staff in various roles with companies across the region - from production and general operative positions, through to maintenance engineers and team leaders.

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MGA Entertainment CEO Isaac Larian has upped the ante in his attempt to save Toys R Us from liquidation. The campaign's goal was for $1 billion so that they could purchase all 735 remaining stores, but it wasn't going to ever reach it. Bid amounts were determined after careful due diligence by Larian, speaking with multiple investors and 3rd party experts. I did my part and now it's up to the other side to accept this offer. "The industry will truly suffer". "Imagine a mini-Disneyland in each neighborhood".

Larian has offered $675 million for 274 top-performing USA stores and $215 million for the Canadian operations of Toys R Us. In those plans, Toys R Us' attorneys said the company had "developed a potentially value-maximizing transaction" that would save it's top 200-performing USA stores along with the Canadian business. The consummate entrepreneur, Larian won the Ernst & Young Entrepreneur of the Year award in 2007.

Toys R Us had previously announced it aimed to sell its Canadian unit, and sell 200 of its top-performing USA stores as part of a potential deal. "I want to preserve that innocent experience for future generations".