The billionaire hoping to save Toys "R" Us is giving up on reaching a deal to buy the company.
California toy mogul, Isaac Larian, offered $675,000,000 in April to buy 200 of the toy chain's remaining stores in the U.S., and more than 80 locations in Canada.
FOX 47 reported to you this past month that Toys "R" Us rejected his initial offer saying it was too low.
So, to sweeten the deal, Larian dropped the Canadian stores from the pitch in an effort to save the U.S. locations and jobs.
But on Monday, Larian confirmed the sale isn't going to happen.
Toys "R" Us has not commented on the latest developments.
Toys "R" Us filed for bankruptcy in September.
In March, the toy chain announced the closure of all of its 735 U.S. stores.
