CLOSURE: Major chain retailer shutting down in 5 Ontario cities

Toys “R” Us Canada says it is closing five Ontario stores including one in Mississauga and revamping several others as it works to “optimize” its business.

The toy retailer says the closing locations include a store in Argyle Mall in London along with its shops on Steeles Avenue West in Thornhill, Hurontario Street in Mississauga, Marcus Drive in Sudbury and Centennial Parkway North in Stoney Creek.

The company did not answer questions about how many jobs will be lost because of the closures.

On top of shuttering some locations, the brand says it is also “rationalizing” its inventory levels to make room for other concepts within its stores.

Some locations will see an expanded, stand-alone footprint for entertainment banner HMV, which started appearing in the toy store last year and is also run by Toys “R” Us owner Putman Investments.

Other stores will be remodelled to host a Wonderlab, a concept Toys “R” Us Canada has been testing in Burlington, Ont., that includes an indoor play structure and space for arts and crafts and sensory activities.

Toys “R” Us has been in the Hurontario location since at least the early 1990s. The Toys R Us brand launched in 1948 in the U.S. and locations opened in Canada in 1984, according to the store’s website.

The U.S. part of the chain filed for Chapter 11 bankruptcy in 2017 and it mostly operates through shops within Macy’s department stores now.

Toys “R” Us Canada — a separate entity — sought creditor protection around the same time as the U.S. business. It was eventually sold to Fairfax Financial Holdings Ltd. for $300 million and is now owned by Putman Investments, which is behind Everest Toys, Sunrise Records and HMV.

Earlier this year, pop-up HMV stores opened inside Toys “R” Us locations including the stores in Mississauga.

– With files from INsauga.com