"Toys 'R' Us Canada closing 5 stores in Ontario, revamping others and expanding HMV"/ "Montreal-based retailer Frank and Oak to close all stores, sell intellectual property"

Jan. 2, 2025 "Toys 'R' Us Canada closing 5 stores in Ontario, revamping others and expanding HMV": Today I found this article on CBC:

Toys "R" Us Canada says it is closing five Ontario stores 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. Toys "R" Us operates 81 locations across Canada, according to its website.

On top of shuttering some of those 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.

https://www.cbc.ca/news/business/toys-r-us-closing-five-stores-1.7421973

Apr. 23, 2025 "Montreal-based retailer Frank and Oak to close all stores, sell intellectual property": Today I found this article on CBC:

Clothing retailer Frank and Oak is closing all 14 of its stores in the coming weeks 

and selling its intellectual property to a Montreal-based company as part of ongoing restructuring efforts.

In a press release, the company says the Superior Court of Quebec approved the sale of the brand to Lamour Group and Thread Collective Inc.

It says the Frank and Oak brand will continue on, 

but the original corporate entity UGC Canada Holdings Inc. is expected to file for bankruptcy and wind down its operations.

Existing inventory will be liquidated, while e-commerce sales will continue for Canadian customers.

The new operating company will look at options for the future of the Frank and Oak brand, which could include opportunities to relaunch in select markets or channels.

Frank and Oak filed a notice of intention in December, saying it faced financial difficulties due to COVID-19 and supply chain problems.

https://www.cbc.ca/news/canada/montreal/frank-and-oak-stores-closing-1.7516198