Another major retailer in Victoria has announced it will be closing its doors for good.
After nearly three decades, the Toys “R” Us store at Victoria’s Mayfair Shopping Centre is officially shutting its doors on January 2nd, 2023.
While there are rumours the popular children’s toy store could return to the region in the future, shoppers are currently greeted with a large sign outside the store confirming that the location is indeed closing.
“Thank you for everything! This location will be closing on January 2nd, 2023,” the sign reads.
“We’re so proud to have been a part of this community and we hope to return in the future.”
The Toys “R” Us opened in Mayfair on October 29th, 1994.
Victoria Buzz reached out to the manager of Toys “R” Us but they were unable to comment on the closure at this time.
After the toy chain rain into financial troubles, Canadian retail entrepreneur Doug Putman purchased the chain from investment conglomerate Fairfax Financial in 2021.
At the time of the acquisition, there were 81 locations across Canada which employed 5,000 employees.
Putman also owns Sunrise Records and Entertainment Limited and purchased HMV in 2019.
Fairfax took over the toy retailer’s Canadian assets when the US parent went insolvent a few years ago for $300 million.
More to come.