Toymakers Launch Last-Ditch Effort To Save Toys R Us

VAN NUYS, CA — A last ditch effort to save Toys R Us gained momentum Thursday as the CEO of the toy company that makes Bratz dolls and Little Tikes toys joined other investors to personally pledge $200 million toward an effort to acquire the failing chain out of bankruptcy.

Toys R Us was set to begin its nationwide liquidation sale Thursday, but the company abruptly called it off. Toys R Us officials cited "unforeseen circumstances," for the delay. The sale may resume Friday, but not if billionaire and Van Nuys-based MGA Entertainment Inc., CEO Isaac Larian has a say it in. The effort was announced Thursday the same day Toys R Us announced the death of its founder Charles Lazarus, 94.

In addition to the initial $200 contribution Larian has pledged to commit 10 percent of all proceeds from Little Tikes purchases made between now and the end of a $1 billion crowdfunding campaign to save the Toys R Us.

"If there is no Toys R Us, I don't think there is a toy business," Larian said. "There is nothing quite like the joy and awe of a child walking through the aisles of a Toys R Us store. I want to preserve that innocent experience for future generations. We can't sit back and just let it disappear. Everyone deserves to be a Toys R Us kid."

Larian’s company is not directly involved in the effort to acquire Toys R Us, but it’s sales would seemingly benefit if Toys R Us keeps the doors open. Larian told the Los Angeles Times that the loss of Toys R Us would have far-reaching effects beyond the toy industry. He said about 130,000 U.S. jobs are at risk, not only at Toys R but at trucking companies, distribution centers and other businesses with connections to the retailer, which had no comment on Larian's bids.

RELATED:

• Toys R Us Liquidation Sales Delayed At NJ Stores: What's Next?
• Charles Lazarus, Toys R Us Founder, Dies At 94

Donations are being accepted via GoFundMe at www.savetoysrus.com. The deadline for reaching the $1 billion goal is Memorial Day -- May 28. As of Thursday afternoon, 487 people had donated in 18 hours. The donations varied in size from $5 to to $50,000.

The donations are not tax deductible, and they don’t entitle the donors to any equity in the company if it is saved.

“Toys“R”Us is on the verge of permanently closing its doors,” reads the GoFundMe page. “It feels like the end of an era, with sad headlines spreading across news and social media, BUT there is still time to save this American icon—and you can help.”

City News Service contributed to this report. Photo: EMERYVILLE, CA - MARCH 15: A customer leaves a Toys R Us store on March 15, 2018 in Emeryville, California. Toys R Us filed for liquidation in a U.S. Bankruptcy court and plans to close 735 stores leaving 33,000 workers without employment. (Photo by Justin Sullivan/Getty Images)