Future of Toys “R” Us Stores in Canada Unclear as Operating Platform, Brand Split Among Buyers

‍ June 13th, 2026// Toys “R” Us Canada could soon see its brands, store leases and operating assets divided among separate buyers as the retailer moves toward court approval of transactions that leave the future of its remaining stores unclear.

Court documents filed in Ontario Superior Court show that the retailer’s restructuring process has resulted in three successful bids, with ownership of the Toys “R” Us and Babies “R” Us brands, select store leases and other assets heading to different purchasers. The proposed transactions are scheduled to be considered by the court on June 22.

While buyers have now been identified for key portions of the business, the future direction of Toys “R” Us in Canada remains uncertain. The proposed transactions would separate ownership of the retailer’s intellectual property from a package of store leases and operating assets, creating questions about what comes next for the remaining locations. Court documents also indicate that the proposed acquisition by a Putman-controlled company includes a distribution centre lease, logistics infrastructure and agreements supporting store operations, suggesting the transaction extends beyond a collection of retail locations.

Toys “R” Us and Babies “R” Us Brands Head to New Owner

Among the most significant developments is the proposed sale of the retailer’s intellectual property assets to Ad Populum, a U.S.-based designer and distributor of consumer products and collectibles.

According to court filings and published reports, the transaction includes the Toys “R” Us Canada trademark, Babies “R” Us trademark, Geoffrey the Giraffe design mark, copyrights, domain names, e-commerce assets, websites and social media accounts.

Ad Populum’s portfolio includes brands such as NECA and WizKids, which are well known within the toy and collectibles industry.

The acquisition would give Ad Populum control of some of the most recognizable toy retail brands in Canada and would place ownership of the Toys “R” Us and Babies “R” Us intellectual property in the hands of a new owner.