TORONTO, Sept. 19, 2017 /CNW/ - Toys"R"Us (Canada) Ltd./Ltee, the nation's largest dedicated toy and baby products retailer, today announced 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' Creditors Arrangement Act (Canada) ("CCAA") in the Ontario Superior Court of Justice in Toronto, Ontario. Toys"R"Us continues to operate its business in the ordinary course in terms of its customers, team members, vendors and partners.
Melanie Teed-Murch, President of Toys"R"Us and Babies"R"Us Canada, commented, "The restructuring is intended to facilitate the continued success of our iconic brands; building a stronger company for our customers, business partners and team members."
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.
"We have financing commitments to ensure normal operations throughout the CCAA proceedings," said Teed-Murch. "Toys"R"Us will continue to offer the hottest toys this holiday season, along with an outstanding shopping experience in both brands. All gift cards, warranties and returns will continue to be honoured as normal as will all other customer programs including the Baby Registry, "R" Club™ loyalty and wishlist program and the company's philanthropic commitment to communities across Canada."
"We are confident that this process will enable us to leverage Toys"R"Us' existing strengths to succeed," continued Teed-Murch. "These strengths include our ability to drive same store sales growth, strong EBITDA growth, a portfolio of strong proprietary brands, a leadership position on trend, first to market with exclusive products; and an evolving omnichannel strategy connecting customers wherever, whenever and however they want through our webstore, mobile and store shopping experience."
As Toys"R"Us Canada continues to position itself for the future, the Company is also extending the successful customer-centric store format that opened in Langley, British Columbia in July 2017 to a new store in South Barrie, Ontario 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. In time for the holidays, Toys"R"Us Canada will also be moving to free in-store pick up within one hour and offer an expanded ship from store option at stores across Canada to get products to customers even faster.
About Toys"R"Us, Canada
Toys"R"Us (Canada) Ltd., is part of Toys"R"Us, Inc., the world's leading dedicated toy and baby products retailer. Toys"R"Us, Canada operates 82 stores across the country. For store locations and convenient online shopping, visit www.toysrus.ca.
About Toys"R"Us, Inc.
Toys"R"Us, Inc. is the world's leading dedicated toy and baby products retailer, offering a differentiated shopping experience through its family of brands. Merchandise is sold in 885 Toys"R"Us and Babies"R"Us stores in the United States, Puerto Rico and Guam, and in more than 810 international stores and over 255 licensed stores in 38 countries and jurisdictions. With its strong portfolio of e-commerce sites including Toysrus.com and Babiesrus.com, the company provides shoppers with a broad online selection of distinctive toy and baby products. Toys"R"Us, Inc. is headquartered in Wayne, NJ, and has nearly 65,000 employees worldwide. The company is committed to serving its communities as a caring and reputable neighbor through programs dedicated to keeping kids safe and helping them in times of need. Over the past three decades, the Company has given more than $100 million in product donations to children's charities. Since 1992, the Toys"R"Us Children's Fund, a public charity affiliated with Toys"R"Us, Inc., has also donated more than $130 million in grants. For more information, visit Toysrusinc.com or follow @ToysRUsNews on Twitter.
SOURCE Toys "R" Us (Canada) Ltd.
For further information: Lenders and Note Investors: Matthew Finigan, Vice President, Treasurer at 973-617-5808 or Matthew.Finigan@toysrus.com; Media: Sheri Papps, Paradigm Public Relations, Tel: 416-413-5207, firstname.lastname@example.org; Carolyn Abbass, Paradigm Public Relations, Tel: 416-413-5190, email@example.com; Amy von Walter, Executive Vice President, Global Communications & Customer Care at 201-815-9512 or Amy.vonWalter@toysrus.com; firstname.lastname@example.org, Tel: 973-617-5900