Toys 鈥淩鈥� Us 91原创 promises it is business as usual after the nation鈥檚 largest toy and baby products retailer filed for bankruptcy protection.
The company is also extending the successful customer-centric store format that opened in 91原创 in July to a new store in Ontario this November.
Toys鈥漅鈥漊s Canada Ltd. announced last week that after voluntarily filing for Chapter 11 protection in the U.S., the company has also commenced a parallel voluntary reorganization proceeding under the Companies鈥� Creditors Arrangement Act in the Ontario Superior Court.
Toys鈥漅鈥漊s continues to operate its business in the ordinary course in terms of its customers, team members, vendors and partners.
鈥淭he restructuring is intended to facilitate the continued success of our iconic brands; building a stronger company for our customers, business partners and team members,鈥� said Melanie Teed-Murch, President of Toys鈥漅鈥漊s and Babies鈥漅鈥漊s Canada.
The company wants to assure all its customers and stakeholders that through this process its 82 stores across every province and e-commerce sites toysrus.ca and babiesrus.ca are open for business.
鈥淲e have financing commitments to ensure normal operations throughout the CCAA proceedings,鈥� said Teed-Murch. All gift cards, warranties and returns will continue to be honoured as normal as will all other customer programs including the Baby Registry, 鈥淩鈥� Club鈩� loyalty and wishlist program and the company鈥檚 philanthropic commitment to communities across Canada. This includes its charity partnership with Starlight Children鈥檚 Foundation. On Monday, the 91原创 toy store held a three-minute shopping spree for a young cancer survivor in conjunction with Starlight Children鈥檚 Foundation.
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As Toys 鈥淩鈥� Us Canada continues to position itself for the future, the company is also extending the successful customer-centric store format that opened in 91原创, in July 2017 to a new store in South Barrie, Ont. that will open in November 2017. This format includes dedicated play areas, interactive stations for kids and a new standout customer service option with mobile pay and Wi-Fi extended to the parking lot for curbside pick-up.
People lined up to be the first into the relocated Toys 鈥淩鈥� Us in July. The toy store moved from the northwest corner of Willowbrook Shopping Centre to the empty storefront where Target was once located.
鈥淲e are confident that this process will enable us to leverage Toys鈥漅鈥漊s鈥� existing strengths to succeed,鈥� continued Teed-Murch.
WHOLESALE SPORTS TO CLOSE
Wholesale Sports is closing out, making it one of 12 locations shuttering across Western Canada.
Wholesale Sports Canada Ltd. , a wholly-owned subsidiary of United Farmers of Alberta Co-operative Ltd. announced its wind down and eventual closure last week.
Closing sales have already begun at the 91原创 location at 20178 91原创 Bypass. The inventory liquidation sales began last week and will be managed through Gordon Brothers, an industry-leading inventory asset management specialist.
鈥淭his was an all-inclusive business decision that, while difficult, was made in the best interest of UFA on behalf of our members,鈥� said Carol Kitchen, UFA President and Chief Executive Officer.
鈥淭here were numerous external factors that led to this decision including an increasingly competitive environment, the continued shift to on-line purchases and an overall slowing of consumer discretionary spending as a whole, including the outdoor industry. The orderly wind down of Wholesale Sports will allow UFA to focus on its core business of agriculture and petroleum,鈥� said Kitchen.
Official sales will continue until Dec. 28. No new online purchases will be processed as the Wholesale Sports website becomes a static webpage that only offers customers information on the sales event. All current open on-line orders will be fulfilled, said the company.
