The company will keep most of the chain’s stores open and retain a significant portion of its employees. The deal is subject to court approval and other closing conditions, and is expected to conclude in January. Financial terms of the agreement were not disclosed. (The Logic)

Talking point: The Toronto-based toy seller was granted creditor protection on Nov. 24. It is in the process of liquidation sales at 18 of its 66 stores, which will not be part of the Unity deal. Mimran, the founder of Club Monaco and Joe Fresh,  launched Unity Acquisitions along with Frank Rocchetti and David Lui in 2023. Unity also acquired Vancouver-based clothing retailer Kit and Ace in July—where Lui now serves as CEO—and Vancouver-based Casca Footwear in August. Mimran said in a statement that “the acquisition aligns with Unity’s strategy to enhance and grow extraordinary Canadian brands.”