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BԪַReally sadBԪַ: VictoriaBԪַs biggest toy store closing forever

Toys BԪַRBԪַ Us shutting down in Mayfair Shopping Centre
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A large sign greets shoppers saying that the Toys BԪַRBԪַ Us location is closing on Jan. 2, 2023 after several decades at Mayfair. The nearest Toys BԪַRBԪַ Us store will now be Nanaimo. (Chris Campbell/Black Press Media photo)

For Lizzie Wilson, a parent, grandparent and auntie to dozens, saving money on toys is pretty crucial.

ThatBԪַs why sheBԪַs sad at the news that the huge Toys BԪַRBԪַ Us store at VictoriaBԪַs Mayfair Shopping Centre is closing down forever.

A large sign greets shoppers saying that the Toys BԪַRBԪַ Us location is closing on Jan. 2, 2023 after several decades at Mayfair. The nearest Toys BԪַRBԪַ Us store will now be Nanaimo.

BԪַItBԪַs just really sad,BԪַ said Wilson, who was Christmas shopping on Monday morning at Mayfair. BԪַTheir prices are often better than other stores. Toys are really pricey in general so anything you can save makes a big difference for someone like me.BԪַ

Other shoppers said much of the same thing, saying that Toys BԪַRBԪַ Us and Walmart are usually cheaper than specialty toy stores.

The news shouldnBԪַt be a shock to those who follow business news.

Toys BԪַRBԪַ Us has been a troubled company for many years, leading to Putman Investments saying in 2021 that it will purchase Toys BԪַRBԪַ Us and Babies BԪַRBԪַ Us Canada from affiliates of Fairfax Financial Holdings Limited

The Ancaster, Ont.-based investment company did not reveal the value or terms of the deal.

Toys BԪַRBԪַ Us and Babies BԪַRBԪַ Us Canada employs almost 5,000 people between its Vaughan, Ont. head office and 81 stores in 10 provinces.

Family-owned Putman Investments is run by Doug Putman, who owns Sunrise Records and Entertainment Limited and purchased HMV in 2019.

He purchased closed Davids Tea locations and began planning to open his own tea chain called T. Kettle.

Fairfax acquired Toys BԪַRBԪַ Us Canada in 2018 for $300 million as the company was filing for bankruptcy in the U.S.

BԪַ With files from The Canadian Press

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Chris Campbell

About the Author: Chris Campbell

I joined the Victoria BԪַ hub as an editor in 2023, bringing with me over 30 years of experience from community newspapers in Metro Vancouver and the Fraser Valley
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