Toys ‘R’ Us Rejects Rescue Offer From Little Tikes’ Larian
- Bid, along with two others, is said not to meet qualifications
- Auction of Canada business may wait for ‘stalking horse’
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Toys “R” Us Inc. has turned away an offer from the founder of MGA Entertainment Inc. to keep some of its North American stores open, according to a person with knowledge of the matter.
The bid from Isaac Larian didn’t qualify under auction rules approved by the judge overseeing the bankruptcy, the person said. Two other bids for Toys "R" Us’s Canadian operations, from unspecified parties, also didn’t qualify, said the person, who asked not to be identified discussing the confidential procedure.