Ahead of an auction scheduled next week for the Canadian assets of Toys "R" US, Fairfax Financial Holdings Ltd. has put in a $300-million offer. Toys R Us said it plans to seek approval for the sale of the Canadian assets on April 24 in bankruptcy court in Richmond, Va. Earlier this week, a bid by Isaac Larian, the chief executive officer of California-based toy maker MGA Entertainment, to buy the Canadian stores of Toys "R" U and some of its U.S. stores was rejected. https://t.co/tnihZj6gFK —@isaaclarianSaddled with debt and facing competition from firms such as Amazon, Toys "R" Us filed for bankruptcy protection in the United States in Sept. 2017. The 82 Canadian Toys "R" Us outlets operate independently of the U.S. division.

Source: CBC News April 20, 2018 16:08 UTC