Recent court documents reveal that Toys “R” Us Canada is planning to close additional store locations in Ontario, including the one in St. Catharines.
In the filings concerning its creditor protection case, the retailer stated it intends to shut down its outlet at the Niagara Pen Centre, pending an upcoming creditor protection hearing.
The documents indicate that the company will close its store at Upper Canada Mall in Newmarket by March 31, after reaching a lease termination agreement with the property owner.
However, when the retailer sought creditor protection and began restructuring earlier this month, it cautioned that its network of 22 stores might decrease even more.
Court documents from earlier this month also mentioned that the company expects to honor previously issued gift cards until February 16, meaning gift cards won’t be valid after Monday.
Thirteen current stores have affiliates of Toys “R” Us Canada owner Putman Investments as landlords, and out of those properties, 11 are currently on sale.
With files from The Canadian Press.
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