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Toys "R" Us Canada
Canadian toy store chain From Wikipedia, the free encyclopedia
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Toys "R" Us (Canada) Ltd. is a Canadian chain of toy stores. It was founded by the Canadian franchise of U.S. toy retail chain Toys "R" Us; as of 2018, however, it operates independently and is based in Concord, Ontario, and throughout Canada.
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It was owned by its American parent company from 1984 to 2018. In September 2017, Toys "R" Us filed for Chapter 11 bankruptcy protection, and closed all U.S. locations in June 2018.[1] Toys "R" Us pursued a sale of the Canadian division, including the possibility of bundling them with top-performing U.S. stores. The Canadian unit had annual sales of $1.08 billion at the time of the filing, and had to file for protection from its creditors due to the default of its U.S.-based businesses.[2]
In April 2018, it was announced that Fairfax Financial would acquire the 82 Toys "R" Us locations in Canada for $300 million, with the stores continuing to use the Toys "R" Us name.[3][4] In 2021, Sunrise Records owner Doug Putman, through his Putman Investments, announced he would buy Toys "R" Us Canada (which now comprised 81 locations) from Fairfax Financial.[5]
In January 2024, the chain announced that it would revive the HMV brand in Canada (which Putman had acquired via Sunrise in 2019)[6] as a store-within-a-store concept at Toys "R" Us Canada locations, stocking music, home video, and memorabilia such as books and clothing. The departments began to launch at selected locations in the Greater Toronto Area, and were expected to be deployed at other locations throughout the year.[7]
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References
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