According to CNNMoney, Toys “R” Us rejected the bid from Isaac Larian, CEO of  MGA Entertainment Inc. (MGAE), to save the toy store. Last week, Larian put in a formal bid of $675 million to buy the Toys “R” Us stores in the U.S., as well as $215 million to buy  the Toys “R” Us stores in Canada.

According to reports, the bid was too low. Despite the alleged rejection, CNNMoney reports that Larian plans to continue to fight to save Toys “R” Us.

Toys “R” Us filed for bankruptcy in September, and announced last month that it would officially be closing its doors. Following the news, Larian started a GoFundMe campaign aimed at saving the toy retailer.

About the author

Stephanie Grassullo

Stephanie Grassullo

Stephanie Grassullo is an associate editor at Adventure Publishing Group. In addition to handling toy and licensing news and updates for The Toy Book and The Licensing Book, Stephanie also writes toy reviews and commentaries for the Toy Insider. When she’s not binge-watching old episodes of Gossip Girl, Stephanie is always game for Boggle tournaments—she’s the titleholder Boggle champion in her family, and proud of it! Stephanie firmly believes that there is no awkward moment that can’t be remedied with the help of Bop It. To get to know her better, follow her on Twitter @steph_grass.

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