The Toys “R” Us and Babies “R” Us store at Upper Canada Mall in Newmarket, Ontario, is reported to have permanently closed in January 2026 as part of a national downsizing by owner Putman Investments.
Putman Investments — led by Doug Putman, who bought Toys “R” Us Canada in 2021 — has said it is “optimizing” the business amid rising competition from online retailers and big-box chains. Toys “R” Us Canada announced the closure of five Ontario stores on Jan. 2, 2026; subsequent reporting and industry analysis documented a much wider retrenchment across 2026. (See company announcement coverage and later analyses.)
The exit at Upper Canada Mall adds to vacancy pressure at the mall’s larger retail spaces. The mall lost Hudson’s Bay in June 2024; Northern Reflections later announced its Upper Canada Mall location would close (a Jan. 28 closing date is shown in local reporting). Community members on local forums such as Reddit described the Toys “R” Us closure as sudden and expressed concern about fewer options for children’s gifts.
Many local shoppers say they now rely on nearby big-box options, such as the Walmart Supercentre in the area, or travel to specialty retailers (for example, Mastermind Toys in neighbouring communities) for a wider selection. Mall management, owned and managed by Oxford Properties, says it is working on longer-term plans to address vacancies — including a range of potential reuses and possible integration of non-retail uses or residential development as part of broader redevelopment planning.
