Toys ‘R’ Us kids, it’s time to grow up…
The iconic toy store, along with its Babies ‘R’ Us locations are set to close their doors forever in the next few weeks, which has many people wondering if there will be any sales as well as what to do with gift cards, credit cards, and online registries.
And we have all those answers for you! Whether you want to plan one last trip and stock up or need to figure out if your gift cards are still good we can help.
Read on to find out when, where, and how to cash in and say goodbye.
Toys ‘R’ Us is expected to close its doors and liquidate in the next 30-60 days; although there is no given date by the company, most likely they will be closed by the end of May at the latest. You can check the location near you, as closing dates will vary.
Sale prices will continue to drop over the next several weeks, getting lower as a stores closing draws nearer. Right now items are being discounted 25-30%, but by the end of April expect prices to be slashed by as much as 80%.
Keep an eye out on sales prices by you and shop smart.
Gift Cards/Store Credits/Reward Points
Gift Cards will be good for the next 30 days only; when a company files for bankruptcy gift cards no longer need to be honored but many do for a limited time, which is the case here.
In an email to USA TODAY last week, Toys R Us spokesperson Taylor O’Donnell stated the company will honor the cards for the next 30 days, so if you have one now is the time to use it.
Store credits and reward points also need to be used sooner rather than later; there is no word on whether reward points can be redeemed online once stores close and in-store credits will become void.
Parents and parents-to-be are freaking out a bit over what will happen with their baby registries, but this is the one area where there is a bit of good news.
Although stores are closing, the Babies ‘R’ Us registries and online stores will stay open for a bit longer. According to Toys ‘R’ Us CEO David Brandon, they will keep these active for a bit in the hopes a company may want to purchase these assets.
However, bear in mind that this will only be for a short time and that whatever is bought on the registry will not be able to be returned or exchanged, which may leave parents in the lurch as they may get something that is defective or wrong with no recourse.
If you own a Toys’R’ Us credit card you are still liable for that debt when the store closes; as of now there is no word on when those cards will become inactive but we will keep you posted.
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