Toys R Us Canada: Stores Closing, Sale Imminent

0:00Toys RS Canada is closing at least two more stores while getting ready to sell the entire business. The chain has notified landlords at the St. Laurent Center in Ottawa and Woodgate Plaza in St. John's, Newfoundland, that those locations will shut down soon. It's also handing back keys for two spots it already closed, an agri-pin center in Ontario, and Valdriel Dorion in Quebec. The moves come right before the retailer heads back to court next month. There, it plans to seek approval for a full sales process to find buyers for the business or its assets. This is all part of a creditor protection effort that started earlier this year. The company has been struggling with heavy debt, forcing these tough cutbacks to keep things afloat. Court filings outline the next steps clearly. If approved, potential buyers would submit bids in May, with the chain picking one or more winners by June. Toys RS Canada navigates this uncertain path. Families who love the toy giant will be watching closely for what comes next.

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