150 ToysRUs stores closing. Full list
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Clearance starting now until closing date mid-April
https://www.google.com/amp/amp.timeinc.net/time/money/5137073/toysrus-going-out-of-business-sale
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My store still lives on. Whew. A really bit the bullet.
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Toys R Us prepping to liquidate and close all US stores.
Spend those gift cards, they might not allow them during liquidation.
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Toys R Us Liquidation: Senator Wants Store to Redeem Gift Cards for Cash
It’s becoming increasingly likely that Toys R Us will indeed end up in complete liquidation (we wrote about this before). All UK stores are already confirmed to be closing, and that’s the likely outcome for U.S. stores too and all U.S. stores are now confirmed as being shut down too leaving tens of thousands without jobs.
If that happens there’s a good chance all Toys R Us gift cards will become worthless as the stores may not accept them during the liquidation process, depending on how the agreement is structured in court.
In fact, UK-based Toys R Us locations already don’t accept gift cards since March 11. As of today, U.S. based stores are still accepting gift cards, but that could change any day.
Senator Chuck Schumer from New York sent a letter Wednesday to the Federal Trade Commission, asking them to ensure consumers have time to use their existing gift cards before Toys R Us closes up shop. He also mentioned the idea of consumers being able to redeem gift cards for cash. (NYDailynews) This is part of a broader conversation about the consumer protections for store-specific gift cards.
If you are holding any Toys R Us gift cards, use them up now. If Schumer gets his way, it would be a valuable proposition to hold onto the cards and cash them out, but the more likely eventuality is that the cards will be honored for use, not for cashout, or that they’ll become entirely worthless.
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@mrvietnam said in 150 ToysRUs stores closing. Full list:
Toys R Us Liquidation: Senator Wants Store to Redeem Gift Cards for Cash
It’s becoming increasingly likely that Toys R Us will indeed end up in complete liquidation (we wrote about this before). All UK stores are already confirmed to be closing, and that’s the likely outcome for U.S. stores too and all U.S. stores are now confirmed as being shut down too leaving tens of thousands without jobs.
If that happens there’s a good chance all Toys R Us gift cards will become worthless as the stores may not accept them during the liquidation process, depending on how the agreement is structured in court.
In fact, UK-based Toys R Us locations already don’t accept gift cards since March 11. As of today, U.S. based stores are still accepting gift cards, but that could change any day.
Senator Chuck Schumer from New York sent a letter Wednesday to the Federal Trade Commission, asking them to ensure consumers have time to use their existing gift cards before Toys R Us closes up shop. He also mentioned the idea of consumers being able to redeem gift cards for cash. (NYDailynews) This is part of a broader conversation about the consumer protections for store-specific gift cards.
If you are holding any Toys R Us gift cards, use them up now. If Schumer gets his way, it would be a valuable proposition to hold onto the cards and cash them out, but the more likely eventuality is that the cards will be honored for use, not for cashout, or that they’ll become entirely worthless.
Being reported on Hip2Save that GC’s will be honored until 4/15.
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@mistercheap
Yes, Toys R Us has filed for bankruptcy and is in process of being liquidated. After 70 years in business, the iconic retailer is set to close out U.S. operations before the end of the year.USAToday clarified with a Toys R Us spokesperson via email today that all gift cards will continue to be valid for 30 days. Gift cards should continue to work through April 13th. Be sure to use all your gift cards up by then. Use them sooner rather than later since you never know what kind of stock will remain in the stores as they continue depleting their inventory.
