Toys R Us customers that still have gift cards should use them as soon as possible.
The toy retailer is closing down its U.S. business and the cards will soon become worthless. However, customers have 30 days to make use of the gift cards before the company will no longer honor them.
Toys R Us’ decision to honor gift cards is one that it didn’t have to take due to its currently being in bankruptcy protection. Despite this, the chain will still do so in what is a positive move for customers in its final days.
The Toys R Us shutdown will affect all 735 of the company’s stores in the U.S. Liquidation hasn’t yet begun, but the retailer is planning to announce more details about its closing in the near future.
“I am very disappointed with the result, but we no longer have the financial support to continue the Company’s U.S. operations,” Dave Brandon, Chairman and CEO of Toys R Us, said in a statement. “We are therefore implementing an orderly process to shutter our U.S. operations and will pursue going concern sales or reorganizations of certain of our international businesses, while our other international businesses consider their options.”
News of the Toys R Us bankruptcy came about back in September. It wasn’t long until the company started closing down stores to try and save its business. Unfortunately for its customers and employees, the chain couldn’t save in a e-commerce world dominated by Amazon.com, Inc. (NASDAQ:AMZN).
As of this writing, William White did not hold a position in any of the aforementioned securities.
