NEW YORK (AP) - A toy executive who launched a longshot bid to save Toys R Us says he's disappointed other companies didn't join the effort, but he still plans to formally submit a bid for more than 300 stores in the U.S. and Canada.
Nostalgia hasn't translated into dollars so far in the long-shot effort to crowdfund a future for the toy chain. Isaac Larian, CEO of privately held MGA Enterprises, had pledged $200 million with other investors in hopes of saving part of the bankrupt chain. But the crowdfunding effort has raised just $59,000 more in three weeks.
Larian, who had said he would use his own money for the bid, says other toy companies initially were interested in joining up but backed down. He said Thursday he and other investors still plan to formally submit a bid.