People with gift cards to Mastermind Toys have until Christmas Eve to use them, the company announced on Wednesday, Dec. 20.

Mastermind Toys is set to come under new ownership in early 2024. As part of that process, it has warned existing gift cards won鈥檛 be accepted after Sunday, Dec. 24.

The national toy retailer reached a deal on Dec. 4 to sell the bulk of its business to Unity Acquisitions Inc., after it had filed for creditor protection under the Companies鈥� Creditors Arrangement Act (CCAA).

鈥淕ift cards will not be accepted after Dec. 24 for the remainder of the CCAA process, until the acquisition of Mastermind by Unity Acquisitions Inc. closes,鈥� said David Ryan, a spokesperson for Mastermind Toys.

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Mastermind and Unity did not disclose the financial terms of their deal, which is still subject to court approval but is expected to close in January.

Five of six B.C. outlets will survive a deal announced to save ailing Canadian toy retailer: Coquitlam, Delta, Langley, Abbotsford, and Langford.

The Prince George location will close, and currently has a 50 per cent store wide sale.

Mastermind Toys has 66 stores across Canada.

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