Billionaire Makes $890 Million Bid To Save Toys R Us In U.S. & Canada

[fivethej]

Looks like Geoffrey could be saved

 

https://www.theglobeandmail.com/business/article-toys-r-us-gets-890-million-bid-for-us-canada-stores-from-mga/

 

Quote

Bratz doll maker MGA Entertainment said on Friday its billionaire founder and chief executive, Isaac Larian, had made an $890-million bid for Toys ‘R’ Us stores in the United States and Canada.

Larian has offered $675-million for U.S. stores and $215-million for Canadian stores, MGA said in a statement.

The funds to purchase the stores will come from Larian’s own coffers as well as from other investors and financing from banks, said privately held MGA, which also makes Little Tikes and Lol Surprise toys.

Toys ‘R’ Us filed for bankruptcy in September in the face of strong competition from online retailers such as Amazon.com Inc.

Once the largest U.S. toy retailer, Toys ‘R’ Us abandoned a plan to emerge from bankruptcy last month and said it would try to maintain more profitable locations in Europe and Asia as an on-going business while liquidating its U.S. and U.K. operations.

“Everyday that goes by, the value of Toys ‘R’ Us declines and more people lose their jobs. I did my part and now it’s up to the other side to accept this offer,” Larian said in a statement.

Larian also led a crowdfunding effort through GoFundMe to raise $1-billion in an effort to buy the iconic toy retailer. The campaign has raised over $200-million to date.

Earlier this month, Toys ‘R’ Us lawyer Joshua Sussberg said the company received multiple bids of more than $1-billion for an 85 per cent stake in its Asian business as it plans to sell some non-U.S. operations.

 

[Rounoush]

Nice.

[Ghostsof1915]

Toys are things that I think smaller retailers are better at. They are more flexible. They are more in tune with their customers. 

I've been to a Toys R Us store twice in my lifetime. Better still, smaller stores can specialize and carry stuff that the larger chains don't. 

They also do things like wrapping that the big stores won't (unless at Christmas time). 

[riffraff]

Why doesn't this guy do something important with that money.

[Putgolzin]

1 hour ago, riffraff said:

Why doesn't this guy do something important with that money.

Because this tries to make it sound like he's doing some sort of philantropic deed when in fact he's doing what rich guys do to get richer. He's trying to buy a business out of bankruptcy for pennies on the dollar.

[riffraff]

7 minutes ago, nzan said:

Because this tries to make it sound like he's doing some sort of philantropic deed when in fact he's doing what rich guys do to get richer. He's trying to buy a business out of bankruptcy for pennies on the dollar.

Exactly.

 

 

[taxi]

1 hour ago, nzan said:

Because this tries to make it sound like he's doing some sort of philantropic deed when in fact he's doing what rich guys do to get richer. He's trying to buy a business out of bankruptcy for pennies on the dollar.

I'm not entirely sure it's such a wise decision. The bidder also owns "Bratz" and seems to be constantly relaunching the brand with mixed success. Perhaps he sees the acquisition of TRU as a way to reinvigorate his own brand. He's essentially doubling down on his own failing product. 

[Violator]

5 hours ago, taxi said:

I'm not entirely sure it's such a wise decision. The bidder also owns "Bratz" and seems to be constantly relaunching the brand with mixed success. Perhaps he sees the acquisition of TRU as a way to reinvigorate his own brand. He's essentially doubling down on his own failing product. 

Its smart for him its like having an apple store to push his product.

[taxi]

17 hours ago, Violator said:

Its smart for him its like having an apple store to push his product.

Assuming people want to buy "Bratz"...and that department sized retail stores for toys are still a profitable business. 

 

 

[Violator]

1 hour ago, taxi said:

Assuming people want to buy "Bratz"...and that department sized retail stores for toys are still a profitable business. 

 

 

In most reports about the downfall of toysrus its not amazon that killed them its lack of modernization in the stores and debt.

[Emmetts]

On 2018-04-16 at 9:15 AM, nzan said:

Because this tries to make it sound like he's doing some sort of philantropic deed when in fact he's doing what rich guys do to get richer. He's trying to buy a business out of bankruptcy for pennies on the dollar.

What an asshole eh. 

 

Only 68,000 jobs at stake and your bitching about someone with money using their money. 

 

BC really is the new Quebec. 

[Putgolzin]

8 hours ago, Emmetts said:

What an asshole eh. 

 

Only 68,000 jobs at stake and your bitching about someone with money using their money. 

 

BC really is the new Quebec. 

Was I though?

Or was I simply un-spinning the story?

By Quebec were you referring to people more dedicated to passion/emotion than logic?  Seems a little racist.

i wouldn't know I'm from neither of those places.

[Emmetts]

23 hours ago, nzan said:

Was I though?

Or was I simply un-spinning the story?

By Quebec were you referring to people more dedicated to passion/emotion than logic?  Seems a little racist.

i wouldn't know I'm from neither of those places.

Cause quebec is a race? Your a toothbrush.  

It is a joke pc policeperson.  

[Putgolzin]

9 hours ago, Emmetts said:

Cause quebec is a race? Your a toothbrush.  

It is a joke pc policeperson.  

So is this your thing? Just skipping around pissing partisan soundbites at everyone you determine isn't as conservative as you?

[Emmetts]

51 minutes ago, nzan said:

So is this your thing? Just skipping around pissing partisan soundbites at everyone you determine isn't as conservative as you?

Depends, is yours using doublespeak to try and paint people things they are not?

 

Quebec: Québec is a predominantly French-speaking province in eastern Canada with 2 vibrant cities in its south, connected by the Chemin du Roy highway along the Saint Lawrence River

 

Racist : a person who shows or feels discrimination or prejudice against people of other races, or who believes that a particular race is superior to another.

 

[Putgolzin]

4 minutes ago, Emmetts said:

Depends, is yours using doublespeak to try and paint people things they are not?

 

Quebec: Québec is a predominantly French-speaking province in eastern Canada with 2 vibrant cities in its south, connected by the Chemin du Roy highway along the Saint Lawrence River

 

Racist : a person who shows or feels discrimination or prejudice against people of other races, or who believes that a particular race is superior to another.

 

Interesting you mention my doublespeak, because I intentionally left that there not to speak about Quebecois or BC'ers at all, but to see if you would paint yourself as someone who has no ability to approach logic on account of their passion/emotion. Ta-da.

[Emmetts]

12 minutes ago, nzan said:

Interesting you mention my doublespeak, because I intentionally left that there not to speak about Quebecois or BC'ers at all, but to see if you would paint yourself as someone who has no ability to approach logic on account of their passion/emotion. Ta-da.

 

"By Quebec were you referring to people more dedicated to passion/emotion than logic?  Seems a little racist."

 

You are failing at this game.