Toys “R” Us Canada says all 83 stores, including in Victoria and Nanaimo, will remain open. The company announced close to 180 stores will be shut down in the U.S. Photo courtesy CBC.
Toys “R” Us Canada says all 83 stores, including two on Vancouver Island, will stay open as the company is set to close nearly 180 outlets south of the border.
Toys “R” Us filed for bankruptcy protection in September and is $5 billion in debt.
Increased competition and more customers going online prompted the decision to shut down the stores, with close to 20 per cent going dark starting next month.
Toys “R” Us Canada President Melanie Teed-Murch said business will continue for all Canadian stores.
The company has locations at Mayfair Mall in Victoria and Woodgrove Centre in Nanaimo.
“Since the initiation of our September court proceedings, our primary focus has been reimagining our business with you, our customers in mind and ensuring a normal course of operations,” Teed-Murch told customers in an open letter.
She added, “Our team is hard at work strengthening our competitive position and making the improvements necessary to ensure that we have the products when, where and how you choose to shop with us.”
Chairman and CEO Dave Brandon said other American locations will combine Toys “R” Us and Babies “R” Us shops.
2017 was a difficult year for retailers overall as store closings more than tripled from the previous year in the U.S.
There are up to 1,600 Toys “R” Us stores worldwide.
With files from the Canadian Press.
Andy Neal
