Toys “R” Us Canada Closing More Locations: Court Filings

Toys “R” Us Canada is making some big changes, according to new court documents. They’re getting ready to close more stores, including one at Upper Canada Mall in Newmarket, Ont., and possibly another at the Niagara Pen Centre in St. Catharines, Ont. The closure in Newmarket is set to happen by March 31 after reaching an agreement with the landlord, while they’re still figuring out the details for the store in St. Catharines pending a creditor protection hearing.

The company is also looking to give the landlord at the St. Catharines location a 30-day disclaimer notice. What does that mean? It’s basically a way for Toys “R” Us Canada to give up the lease and hand the property back to the landlord.

Unfortunately, Toys “R” Us Canada didn’t have a comment about these changes when asked. But, when they started restructuring earlier this month, they made it clear that they might have to close even more of their 22 stores. The court documents suggest that if their creditor protection gets extended, they’ll be saying goodbye to a “sub-set of underperforming” stores and selling off their inventory.

Did you know that 13 of their existing stores are owned by Putman Investments, which is connected to Toys “R” Us Canada? And out of those, 11 properties are currently up for sale. It looks like big changes are on the horizon for Toys “R” Us Canada, so stay tuned for more updates.