Joan Verdon North Jersey Record Published 8:11 AM EDT Oct 5, 2018 The toy mogul who launched a campaign to keep Toys R Us alive — only to face rejection — says the newly resurrected version of the retailer is dead to him, and that he will not sell his hit toys to it. Isaac Larian, the chief executive of MGA Entertainment, the company that created the current runaway best selling toy called L.O.L. Surprise, and the man who gave the world the Bratz dolls 17 years ago, said the lenders that pushed Toys R Us into liquidation will not get the chance to sell his merchandise when they unveil a new company with the Toys R Us names — and mascot. Larian reacted to news this week that the distressed asset investment groups, including Solus Asset Capital Management, and Angelo Gordon & Co., plan to retain the Toys R Us brand names and intellectual properties and use them to create new stores in the United States. The lenders' … [Read more...] about Toys R Us revival: MGA Entertainment CEO won’t sell to new version
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Kelly Tyko USA TODAY Published 4:58 p.m. UTC Jun 24, 2018 Toys R Us shoppers have been taking their last selfies with Geoffrey and making their final purchases. All Toys R Us and Babies R Us stores will close on or before Friday, the iconic toy retailer announced. Many stores nationwide won't make it until Friday with some closing Tuesday, Wednesday or Thursday. Just like the closing day, discounts vary by location. Some stores have markdowns of 60 to 80 percent and others are at 70 to 90 percent. Inventory also is limited and as stock sells out, portions of stores and empty aisles are being closed off with yellow caution tape. But is this really the end for Toys R Us? Even as stores enter their final days of the liquidation sale, toy expert Jim Silver, the founder and editor in chief of popular toy review website TTPM.com, isn't convinced that the Toys R Us story is over. There are many bidders interested in the Toys R Us brand names, including buyers who … [Read more...] about One last toy run! All Toys R Us stores will close on or before Friday
TOYS R Us was long considered a kids' paradise but financial difficulties forced it to go into administration. The brief silver lining (for customers at least) is the great deals being offered in the closing down sales. Find out how and where to bag a bargain... What and where are the Toys R Us closing down sales? Toys R Us announced it was knocking 25 per cent off its products in its closing down sale. It had been hoped that some stores and jobs could be saved but it was announced on March 14 that all the outlets would now close after the retailer failed to find a buyer. So far, 25 stores have already closed or are due to close by March 15. The retailer had 100 stores around the country and all of them are now expected to shut down. There are expected to be around 3,000 redundancies in total. Joint-administrator Simon Thomas said: "Customers are encouraged to take advantage of these special offers as soon as possible. "While stock levels are generally high, customers may find that the … [Read more...] about When is Toys R Us closing, why did the company go into administration and will there be a closing down sale?
Retail billionaire Mike Ashley’s Sports Direct International Plc is among bidders for certain Toys “R” Us Inc. stores in the U.K., according to a person familiar with the matter.The group has submitted an offer for some properties backing a 2013 securitization known as Debussy DTC, said the person, who isn’t authorized to talk about it and asked not to be identified. Private equity firm TPG is also competing for some assets backing the Debussy debt, while Hayfin Capital Management LLP plans to submit a bid or provide financing to potential buyers, said the person.The 263 million-pound ($370 million) Debussy bonds, which are backed by a loan financing 31 properties in the U.K., came under stress late last year as the toy seller tried to restructure its British operations after filing for bankruptcy protection in the U.S. The securitized loan is now in the hands of administrators, and noteholders have appointed real estate firm Morgan Williams to sell the … [Read more...] about Billionaire Ashley Is Said to Bid for Toys ‘R’ Us U.K. Stores
This post originally appeared in Money Stuff.Toys "R" Us is planning to liquidate after failing to restructure in bankruptcy, weighed down by too much debt that it took on in a private-equity leveraged buyout in 2005. But this guy has a plan:The head of the company that created Bratz dolls and Little Tikes is putting $100 million toward a long-shot bid to save Toys “R” Us.MGA Entertainment Inc. Chief Executive Officer Isaac Larian is aiming to buy the toy-store company’s assets as part of an investment group that includes a crowd-funding campaign. He said it’s his own money on the line, and MGA isn’t part of the bid. If he’s successful, the executive expects that 200 to 400 U.S. stores can be saved.It is a literal GoFundMe campaign. Here is the website. At Barron's, Mary Childs explains the rewards:If you give up to $999, you get MGA's Little Tikes® Cozy Coupe®, and up to $4,999, a T-shirt saying … [Read more...] about Toys ‘R’ Us Might Raise Money on GoFundMe