Toys “R” Us Flounders in Fundraising Efforts

Amid store liquidation and bankruptcy filings, Toys "R" Us (Wayne, N.J.) ambitiously sought to raise funds through a crowdfunding campaign, which intended to rescue approximately 400 of its U.S. stores from closure in the coming weeks.

The efforts have not proven fruitful, with just $59,000 raised over three weeks, compared to the $200 million needed. The company’s CEO Isaac Larian anticipated consumer’s nostalgia for the brand, as well as fear from toy companies facing possible extinction through the toy chain’s demise, would drive contributions.

In response to the low fundraising, Larian expressed his disappointment, but stated his plans to move forward this week with a bid to save 300 of its U.S. and Canada stores, according to USA Today.