Reports of liquidation regarding Toys R Us in the United States hasn't affected cross border transactions much. In the business and commercial world in Canada, it seems to be business as usual for the toy company -- at least for now. The company filed for protection against its creditors last year and reports indicate it could shut the doors on all of its 880 U.S. locations.
A spokesperson for the Canadian arm of the company said business is continuing as usual at more than 80 stores. The spokesperson also said Toys R Us is continuing to honour things like gift cards, loyalty points and gift registries. In January this year, the company announced it would be closing 180 locations in the United States this year, but no mention was made of any Canadian liquidations.
The company has been unsuccessful in finding a buyer or to come to an agreement with creditors. As the U.S. faction of the company announced store closures earlier this year, the Canadian arm continued to voice its commitment to its customers and programs. As a matter of fact, the Canadian division is planning on enhancing its baby registry and other programs throughout this year.
The commercial and business world in Canada continues to change and evolve. Businesses open and some close. With deals being made, partnerships starting and some ending, getting legal counsel may help the sometimes bumpy road in business. An experienced lawyer always has the best interests of his or her entrepreneurial clients in mind.
Source: cbc.ca, "Toys 'R' Us Canada carries on business as usual amid reports of U.S. liquidation", March 9, 2018