TOYS "R" US CANADA ANNOUNCES COMMENCEMENT OF PROCEEDINGS UNDER COMPANIES' CREDITORS ARRANGEMENT ACT

ANCASTER, ON, Feb. 3, 2026 /CNW/ - Toys "R" Us (Canada) Ltd. / Toys "R" Us (Canada) Ltee (collectively, the "Company" or "TRU Canada") announced today that it has commenced proceedings under the Companies' Creditors Arrangement Act (the "CCAA") pursuant to an initial order (the "Initial Order") granted by the Ontario Superior Court of Justice (Commercial List) (the "Court").

After careful consideration of all reasonably available alternatives, TRU Canada has sought creditor protection under the CCAA to obtain a stay of proceedings as it evaluates its strategic alternatives and implements certain restructuring initiatives. These initiatives will include reducing its retail footprint to better position the Company in today's retail environment. All of TRU Canada's currently active stores will remain open during this process.

Among other things, the Initial Order provides for a stay of proceedings in favour of the Company for an initial period of 10 days, subject to extension thereafter as the Court deems appropriate.

As part of its restructuring process, the Company has appointed Neil Taylor as Chief Restructuring Officer. Neil will assist the Company as it navigates the CCAA process while maintaining operations and continuing to serve customers, partners, and employees.

Alvarez & Marsal Canada Inc. has been appointed as the CCAA Monitor. Additional information related to the Company's CCAA proceedings will be available on the Monitor's website at https://www.alvarezandmarsal.com/TRUCanada. 

About the Company

Toys"R"UsⓇ Canada has been Canada's dedicated specialty retailer of toys and baby products since 1984, spreading happiness throughout its stores across Canada and e-commerce sites: Toysrus.ca and Babiesrus.ca. The Company nurtures the needs of Canadian families at every stage, from baby essentials to learning and play products for children and adolescents, with a wide range of national brands, exclusive products, innovative programs and unique partnerships. Committed to creating an experience-driven destination for the whole family, Toys"R"UsⓇ Canada offers a fun and memorable in-store experience for children and their parents. The company also focuses on giving back to its communities through charity efforts that support children and their families in need. Toys"R"Us Canada is a subsidiary of Putman Investments. Toys"R"Us and Babies"R"Us are registered trademarks owned by Toys"R"Us (Canada) Ltd. All rights reserved.

SOURCE Toys "R" Us (Canada) Ltd.

For more information regarding the CCAA proceedings: Enquiries for the Monitor may be directed to: Alvarez & Marsal Canada Inc., Telephone: [phone], Email: [email protected], Web: https://www.alvarezandmarsal.com/TRUCanada