A LinkedIn post suggests that he will be making an offer this week.
Isaac says if he is able to buy it, he plans to reinvest in the company in ways the chain has been unable to because of the debt — though he would likely keep only about 150 to 200 of its 735 US stores.
In a post on LinkedIn, Isaac commented: “#Savetoysrus: I will be making an offer to buy TRU Canada and some of TRU USA and its assets next week. I hope the Bankruptcy court, board, creditors, advisers accept our offer before it’s too late. There’s a lot of risk involved and, at 64, I still have a lot of energy but ain’t a spring chicken! In order to succeed, I will need the help of all Toys R Us associates and their passion and hard work and sacrifices to get this company back on its feet and glories. And, once we succeed, I promise that you will be rewarded handsomely. I might need all the Toys R Us associates to sign a petition to the bankruptcy court to support #Savetoysrus efforts by Isaac Larian. And, I need the toy vendor community support: we all need Toys R Us to launch new innovations in the industry. Yes! #Fortunefavorsthebold and life without passion and purpose isn’t worth living. Thank you.”
Currently, the #SaveToysRUs GoFundMe total sits at just $200,058,000 of its $1b goal, $200m of that having been put in by Isaac and a number of investors. Critics have called the fundraising campaign nothing more than a publicity stunt, which Isaac hasn’t denied. Instead, he asks: “And what’s wrong with that?”
According to the campaign, if the goal is not met by 28th May and the donations are not used to buy Toys R Us, the money will be returned.