UPDATE:

Need a job? More than 160 employers will be at UD Arena

Billionaire submits bid to save Toys ‘R’ Us


A toy tycoon has submitted a formal bid to purchase 274 U.S. Toys “R” Us stores.

Isaac Larian, the billionaire founder and CEO of MGA Entertainment, submitted a bid of $675 million to buy 274 Toys “R” Us in the U.S. He also bid another $215 million to buy 82 stores in Canada. Larian’s company produces toys like Bratz dolls, Little Tikes and LOL Surprise.

» CONTINUED COVERAGE: 5 retailers closing stores in Ohio this year

Larian said he would not be involved in day-to-day operations of Toys “R” U if the bid is accepted, according to The Wall Street Journal.

Toys “R” Us, Inc. voluntarily filed for relief under Chapter 11, in September 2017. In mid-March, Toys “R” Us officials said it was getting ready to close more than 700 U.S. stores, including Babies “R” Us, in a move expected to impact as many as 33,000 workers.

At the beginning of 2018, the chain had more than 800 stores before announcing in January that it would shutter 180 stores.

“To our loyal customers: We’ve seen an amazing outpouring of love and support in recent days and we truly appreciate it,” the company wrote on Twitter. “Our stores are open for business, ready to bring joy to children wherever we can, and to help new and expecting parents navigate raising a family.”

FIVE FAST BUSINESS READS

• No retail apocalypse for these companies: 5 retailers opening stores in 2018

• Franco’s Ristorante Italiano owner dies

• Former DP&L power plants to lay off 370 workers in Ohio

• Amazon looking to buy abandoned Toys ‘R’ Us storefronts

• Check out this $1 million home for sale in Clearcreek Twp.



Reader Comments ...


Next Up in Business

Women leadership program launched in Dayton area
Women leadership program launched in Dayton area

A new program in the Dayton area is designed to empower the next generation of women in executive leadership. The Dayton Area Chamber of Commerce is working with Aileron to launch a new program called Empower to help women in management grow their careers. The new program was presented Tuesday morning at the Dayton Area Chamber of Commerce’s...
New spam impacts some Gmail accounts
New spam impacts some Gmail accounts

A new form of spam is causing some computer experts to scratch their heads.   Messages you didn’t send but appear to come from your Gmail account may wind up in your sent messages folder. The trick lets the spammers bypass Gmail’s spam filters, according to Gizmodo.com. This doesn’t mean your account has been compromised...
Dayton Soin Award winner has innovation in its sights
Dayton Soin Award winner has innovation in its sights

Battle Sight Technologies — a Dayton startup that has developed a chemiluminescent writing device — is the 2018 Soin Award for Innovation winner, the Dayton Area Chamber of Commerce and Soin LLC said Tuesday. Battle Sight Technologies produces the “MARC IR,” which allows its user to write with a reusable luminescent material...
NCR to cut 360 jobs as company outsources work
NCR to cut 360 jobs as company outsources work

NCR Corp., the company once headquartered in Dayton, is cutting some 360 jobs in Georgia, a move that may affect hundreds of other jobs in an economic ripple effect. Atlanta-based NCR said it will close two manufacturing facilities near Columbus, in west Georgia, later this year, as the company outsources production of some automated teller machines...
4X4 obstacle course revs up Saturday
4X4 obstacle course revs up Saturday

Jeep drivers and 4X4 enthusiasts, start your engines: A new Jeep obstacle course and off-road arena is set to open Saturday. The Evans 4X4 Arena Obstacle Course will open at 10 a.m. at Evans Arena Chrysler Dodge Jeep Ram, 924 Shiloh Springs Road, Dayton, the dealership said. RELATED: Evans dealership to open ‘biggest off-road arena’ in...
More Stories