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 An Ontario Toys "R" Us store in 2018 | |
| Toys "R" Us Canada | |
| Company type | Subsidiary |
| Industry | Retail |
| Founded | 1984 |
| Headquarters | Concord (Vaughan), Ontario, Canada |
Number of locations | 81 |
Area served |
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| Products |
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| Brands | HMV Canada |
| Owner | Doug Putman (2021-present) |
| Parent | Toys "R" Us, Inc. (1984-2018) Fairfax Financial (2018-2021) |
| Divisions |
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| Website | www |
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, however as of 2018, it operates independently and is based in Concord, Ontario.
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 March 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 are expected to be deployed at other locations during 2024.[7]
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The fall of Toys "R" Us
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References
- ^ Bhattarai, Abha (March 14, 2018). "Toys R Us to close all 800 of its U.S. stores". The Washington Post. Retrieved March 14, 2018.
- ^ "'Multiple' suitors line up with offers for Toys 'R' Us Canada". financialpost. Retrieved 2022-11-30.
- ^ Reyes, Anthony (June 29, 2018). "No need to grow up, you can still be a "Toys 'R' Us Kid" in Canada". WKBW. Retrieved July 12, 2018.
- ^ "Fairfax agrees $300 million deal to keep Toys 'R' Us Canada open". financialpost. Retrieved 2022-11-30.
- ^ Toneguzzi, Mario (2021-08-19). "Toys R Us Canada Sold to Sunrise Records Owner: Interview with Doug Putman". Retail Insider. Retrieved 2022-11-30.
- ^ Monaghan, Angela; Butler, Sarah (5 February 2019). "HMV reveals which 27 stores have closed after sale to Canadian music boss". The Guardian. ISSN 0261-3077. Retrieved 5 February 2019.
- ^ "HMV making comeback through Toys 'R' Us locations". CTVNews. 2024-02-01. Retrieved 2024-02-01.
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This page was last edited on 3 February 2024, at 10:52