Isaac Larian, CEO of MGA Entertainment, has tweeted about the apparent management takeover. 

The Tweet reads:

“#Savetoysrus: I just heard good news from Jean Charretteur (the GM of TRU Iberia) that he’s close to do a management take over and save TRU in France, Spain and Portugal. This is great news and I hope the hedge funds are reasonable with him so the same thing that happened to TRU in the USA doesn’t happen in Iberia.”

Isaac had previously led a crowdfunding campaign to save the bankrupt toy retailer, which was ultimately abandoned after multiple bids for the US and Puerto Rican stores were rejected.

More information on this story to follow.