Disney has confirmed that it will close its remaining three Canadian stores by this month. The closures, first reported in April, are already complete.
Disney has confirmed that the majority of its Canadian locations will close by September. Out of which, the remaining three are all in Greater Toronto Area. The Disney Store at Vaughan Mills and the Disney Store in Toronto will close by this month. According to their website, the stores will close on or before September 15.
Disney Canada is yet to make a formal statement regarding its Canadian exit. This lack of communication could affect the brand in the eyes of its consumers.
Disney has been closing down stores globally. In Europe, the company has been closing down stores in Amsterdam, Copenhagen, and Paris. The retailer is also pulling out in major US markets.
In July, it was reported that the Disney stores in Ontario, Alberta, and Manitoba were planning to shut, and the former two have already closed. Some of these include their first store at Glendale Galleria. However, Disney still operates a single store at CF Polo Park in Winnipeg, Manitoba.
In Ontario, Disney has closed several stores, including two in Toronto and one in Hamilton, Ottawa, and London respectively.
In June, it was reported that Disney would also close its three stores in British Columbia. Multiple sources claimed that all of the company’s stores in the country would close. One of the sources was a major landlord who was not permitted to speak to the record.
In April, it was revealed that many retailers were reaching out to Disney employees to acquire them. Many of them were also working at the stores until they decided to close to gain the severance money.
Disney is reportedly re-evaluating its operations as the company focuses on its e-commerce platform. The move comes amid a challenging time for the retail industry.
In Canada, Disney had planned to close 60 locations. Many of these were in the country’s major mall chains. The company’s exit strategy involved paying the landlords the remaining amount of their lease.
Rumors are on the loose that Disney might return to Canada partnered up with Toys R Us, which was recently bought by Putman Investments. But, who knows!
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