Toys “R” Us Canada quietly closes dozens of stores
Toys “R” Us Canada has been quietly closing many of its stores across the country this year. According to the Edmonton Journal, at least 38 stores have already closed and another 12 are up for sale, which would leave the company with about 40 locations. The company’s website currently lists 53 stores in Canada, including 24 in Ontario. At its peak, there were just over 100 stores.
Company says it’s making “strategic changes”
Toys “R” Us Canada has not confirmed the exact number of closures, but says it is making changes to improve how it serves families. The company says it is expanding PlayLab, an indoor playground and birthday-party space, and continues to open new, smaller stores, like the one that opened in St. Catharines on Nov. 15.
Ontario stores hit hard
This year, stores in London, Thornhill, Mississauga, Sudbury and Stoney Creek have closed. Locations in Kitchener and St. Catharines are still up for sale. In Toronto, liquidation signs have appeared at Dufferin Mall, Scarborough Town Centre and Victoria Terrace.
In Quebec, stores in Quebec City, Laval and Brossard will close on Jan. 5, leaving only the St-Bruno-de-Montarville location — and even that property is for sale.
Who owns the company now?
Toys “R” Us Canada survived the parent company’s U.S. bankruptcy in 2017. It was bought by Fairfax Financial in 2018 and then by Putman Investments in 2021. Putman also owns Sunrise Records, HMV Canada, Babies “R” Us and other retail brands. In the U.S., Toys “R” Us plans to open more than 30 new stores this holiday season.
Toy stores are disappearing
Toys “R” Us isn’t the only toy retailer struggling. Mastermind Toys closed 18 stores in 2023 before being bought by Unity Acquisitions, though its other 66 stores stayed open.
Experts say Walmart and Amazon dominate toy sales today. Zellers, which recently relaunched in Canada, says it won’t sell toys because it can’t compete on price.
