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Billionaire wants to buy Toys R Us stores, turn them into entertainment hotspots

(CNN) - Billionaire Isaac Larian is making a bid to save toy giant Toys R Us.

Larian wants to buy more than 200 Toys R Us locations in the US for $675-million. He is offering $215 million for more than 80 stores in Canada.

Larian owns toymaker MGA Entertainment. He plans to use a combination of financing, investors and his own money.

Toys-R-Us filed for bankruptcy last fall. The company said in March that it would shut down or sell all of its US stores.

Larian said the liquidation of Toys R Us would have a negative impact on the industry.

His vision for the chain includes turning the stores into entertainment hotspots.

“Imagine a mini Disneyland in each neighborhood,” said Larian.

Toys-R-Us declined to comment on the proposal.


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