I may have identified the owner of the building at 1154-1174 West Broadway Avenue that Toys “R” Us has been leasing for the last 21 years—something I couldn’t do when I wrote my last post on how the historic BowMac sign faces demolition when the beleaguered toy retailer finally vacates the West Broadway store.
I drew most of my information for that post from a report on the 1997 heritage revitalization agreement (HRA).
But while it details how the HRA saved the 1950s BowMac sign from destruction by incorporating it into the new store built at the location and leased by Toys “R” Us, the report stops short of actually identifying the owner who made the agreement with the City of Vancouver in the first place.
Who owns and who’s owed
Actual land title searches cost real money in British Columbia but, thanks to a bit more digging on the Internet, I was able today to find a reference on the Vancouver Archives website to a physical copy and/or microfiche of the 1997 by-law enabling the preservation of the BowMac sign, which is buried in the Archives’ City of Vancouver fonds dealing with by-laws.
The archive’s website does not provide a digital copy of “By-law no. 7771 : a by-law to authorize Council entering into a Heritage Revitalization Agreement with the owner of heritage property“, dated July 22, 1997 (and coded COV-S36–), but its description of the “scope and content” includes the following gem:
“By-law includes agreement between Toyo Enterprises Ltd. and the City of Vancouver regarding 1154-1176 West Broadway (“Bowmac” sign).”
From the Vancouver Archives, my web searches led to a B.C. Ministry of Finance Corporate Registries online Changes of Name notice, which says that on August 8, 2008, “TOYO ENTERPRISES LTD.” changed its name to “PENGCO ENTERPRISES LTD.”
“PENGCO ENTERPRISES LTD.”, in turn, is listed as a landlord—alongside Canadian companies such as RioCan (which owns 2 properties in Ontario leased by Toys “R” Us)—in a Toys “R” Us, Inc. bankruptcy debtors’ application, filed on December 14, 2017, in a U.S. Bankruptcy Court in Richmond, Virginia.
This doesn’t make it 100 percent certain that Pengco is the owner of 1154-1174 West Broadway but the circumstantial evidence is strong.
A lot of debt to go around
This debtors’ application in the Toys “R” Us bankruptcy proceeding that I found is interesting for its scope in identifying previously unidentified parties that are potentially affected.
A total of 74 Canadian municipalities and government agencies are listed (including 14 in British Columbia) that, one assumes, may be owed something in the way of taxes and business fees from Toys “R” Us stores.
There are also a number of property companies—in both Canada and the United States (and perhaps the United Kingdom as well) that own property leased by Toys “R” Us.
As well, there are consulting companies, suppliers, and (of course) many toy makers.
When you consider that the application’s five-page list is over and above other lists of affected parties, it suggests just how widely felt will be the effects—financial and otherwise—of the Toys “R” Us collapse.
Here are the 74 Canadian “Governmental/Regulatory Agencies” included in the Second Supplemental Declaration of December 14, 2017, listing “New Parties” involved in the Debtors’ [Toys “R” Us, Inc.] chapter 11 cases that were not identified on Schedule A to the Original Declaration:
Alberta Recycling Management Authority
British Columbia Safety Authority
Call2Recycle Canada, Inc.
Canadian Electrical Stewardship Association
Centre de Sante et de Services Sociaux
City of Barrie
City of Belleville
City of Burlington, Ontario
City of Burnaby
City of Calgary
City of Coquitlam
City of Edmonton
City of Fredericton
City of Hamilton
City of Kamloops
City of Kelowna
City of Kingston
City of Kitchener
City of Lethbridge
City of London
City of Nanaimo
City of Ottawa
City of Red Deer
City of Regina
City of Richmond
City of Saskatoon
City of St. Catharines
City of Surrey
City of Thunder Bay
City of Toronto
City of Vancouver
City of Vaughan
City of Victoria
City of Windsor
City of Winnipeg
Commission Scolaire Des Draveurs
Commission Scolaire Des Patriotes
Commission Scolaire Marie-Victorin
Commission Scolaire Western Quebec
Consumer Protection BC
District of North Vancouver
Electronic Products Recycling Association
Institut National de Sante Publique du Quebec
Manitoba Minister of Finance
Minister of Finance
Minister of Finance of Manitoba
Minister of Revenue of Alberta
Minister of Revenue of Saskatchewan
Ministere du Revenu du Quebec
Ministry of Social Services
Multi-Material Stewardship Western
Ontario Electronic Stewardship
Ontario Film Authority
Receiver General for Canada
Regie des Alcools des Courses
Region of Peel
Regional District of Central Okanagan
Revenue Services of British Columbia
Saskatchewan Workers’ Compensation
Societe de Gestion Place Laurier Inc.
Technical Standards and Safety Authority
The Township of Langley
Town of Whitby
Treasurer, City Of Toronto
Ville de Dieppe
Ville de Drummondville
Ville de Gatineau
Ville de Saint-Bruno-De-Montarville
Workers’ Compensation Board
Workplace Health, Safety & Compensation Comm.,
Workplace Safety & Insurance Board
Workplace Safety & Prevention Services