GoFundMe Campaign To Save Toys R Us Has Raised Over $200 Million


Larian's push to help the toy retailer survive liquidation includes a bid that MGA and a group of investors made for the Canadian assets of Toys "R" Us last week.

The fight to save Toys "R" Us stems in part from the role it played in Larian's life.

Toys "R" Us said customers who have already placed online orders can expect to receive them.

On Wednesday, a toy company exec and several investors set up a GoFundMe page and pledged $200 million towards rescuing the company.

Toys R Us stores in the U.S. and United Kingdom are in the process of closing down, with a possible rescue package being negotiated for the Canadian arm of the business.

Another wrote: "Wow, we can try to save a toy store but can't raise money to protect our schools better".

There are offers and assumptions about Toys "R" Us Canada too.

In a bankruptcy filing last month, Toys "R" Us blamed Amazon, Target and Walmart for its demise because they exclusively focus on toys and couldn't compete with the competitive prices.

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.

The Toys R Us troubles have hurt big toy makers like Mattel and Hasbro, which have been key suppliers to the chain.

The founder of Toys R Us has died aged 94 after a "period of declining health", according to a statement from the toy company.

"He was the father of the toy business", said Mr Michael Goldstein, who succeeds Mr Lazarus as chief executive.

Toys R Us had hoped to reorganize under the bankruptcy laws but opted to liquidate after what Toys R Us Chief Executive David Brandon called a "devastating" holiday shopping season previous year.

The chain's liquidation will have a "devastating effect" on the toy industry, said Larian, who estimates that 130,000 jobs in the USA could be lost when you include layoffs at suppliers and logistic operations. "There's a magic many of us experienced walking the aisles of a Toys "R" Us, a magic I want my grandchild to experience". Delighted manufacturers ran proposed products by his company before committing to wide-scale production, according to a 1986 article in Atlantic Monthly magazine, which called Lazarus "the person most responsible for loosening Santa's grip on the toy business".