Toys “R” Us Canada unveils plans to open two smaller stores next year

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TORONTO — Toys “R” Us Canada says it will open two new stores in the first half of 2020 — a day after the company’s president resigned from the retail chain.

An executive says the two stores will be smaller than the company’s typical big-box format, but bigger than its roughly 930-square-metre Guelph, Ont., location dubbed a Toybox that opened last year.

Frank Juhasz says the locations have yet to be announced, but they won’t be in a major market like Toronto.

The expansion to 85 stores comes after a tumultuous time for the toy seller after its American and U.K. counterparts liquidated stores, and the Canadian business sought creditor protection.

Fairfax Financial Holdings Ltd. eventually purchased the Canadian operation for $300 million and has plans to significantly grow the company.

The expansion news came shortly after the company’s president, Melanie Teed-Murch, tendered her resignation Monday after more than two decades working with the company.

 

Companies in this story: (TSX:FFH).

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