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Toys R Us Closes Last B.C. Location
Toys R Us has closed its last B.C. store, located at Willowbrook Shopping Centre in Langley.
According to multiple reports, the mall’s owner, QuadReal Property Group, posted a notice on the shuttered store, saying that the retailer was in default of its lease due unpaid rent and other expenses totalling about $98,000.
QuadReal has publicly acknowledged the closure but declined to comment on the reasons for it.
Debt-burdened Toys R Us has closed all of its stores in the Vancouver region over the past year and numerous others across Canada.
In December, The Edmonton Journal reported that the company closed 38 stores throughout the country.
According to other media reports, stores in Montreal; London, Ont.; and Red Deer, Alta, were among seven properties listed for a total of $121 million. The company’s Canadian headquarters in Vaughan, Ont., also closed, and Ontario’s labour ministry told HR Report that launched its rapid re-employment and training service for employees facing layoffs.
Meanwhile, HR also reported that Quebec labour department records indicate nine Toys R Us stores in that province closed, leaving 180 people out of work.
Photo: CNW Group/Toys R Us Canada
- ◦Lease
- ◦Financing
