Bratz’s big toy bid
Doll maker’s CEO eyes oddball Toys ‘R’ Us offer
A budding campaign to buy Toys ‘R’ Us has hit a few bumps in the road, but its billionaire backer said he’s just getting started.
Toy tycoon Isaac Larian — founder and chief executive of MGA Entertainment, maker of Little Tikes, Bratz dolls and LOL Surprise — says he was in talks with several major toymakers to support his buyout bid but they have since withdrawn.
Meanwhile, Larian’s recently launched GoFundMe campaign called #SaveToysRUs had raised $35,649 as of Friday evening — a drop in the bucket next to his $1 billion goal.
“We haven’t promoted the campaign,” Larian told The Post on Friday, noting that it was only into its second day. “We feel that number will increase dramatically.”
More than 1,100 supporters had contributed an average of $31.50 to buy the bankrupt chain.
Larian is pouring $100 million into the buyout bid and has raised another $100 million from investors, including real estate developer Joseph Moinian.
He’d also negotiated the support of major toy manufacturers that had promised to be part of the venture, Lar- ian said. But on Thursday, the toymakers withdrew their financial support.
“Maybe they are concerned about the other retailers,” like Walmart, Amazon and Target, Larian said.
“They offered millions,” Larian added. “I wanted to do this with the industry in- volved and behind it. All of the toy vendors, including MGA, made a lot of money selling to Toys ‘R’ Us. I was hoping we’d all give back.”
As the toy chain launched liquidation sales on Friday, Larian was busy prepping a social media campaign and video that will launch next week with famous actors, athletes and singers.
Larian declined to identify the celebrities except to say that they are “young people who were Toys ‘R’ Us kids.”
The industry has also lost millions to Toys ‘R’ Us, including Larian’s Van Nuys, Calif.-based MGA, which is owed about $12 million, according to court filings.
MGA is part of a motion involving other vendors that are trying to get paid for the merchandise they sent Toys ‘R’ Us after it filed for bankruptcy protection in September, when it also received $3.1 billion in financing to pay its bills.
MGA has open invoices for about $11 million in goods, and $798,960 in merchandise shipped after the bankruptcy filing, according to court documents.
Larian’s bid to buy Toys ‘R’ Us does not involve his company, he said. He has a separate bid to purchase the Canadian operations of Toys ‘R’ Us.