It's a sad day to be a Toys R Us kid (or Babies R Us Parent). The company has filed for liquidation bankruptcy and will most likely close its remaining 735 stores. The superstore toy chain was a wish list candy land for kids of the 80s, 90s, and 00s, before falling on hard times in the last decade.
The company was founded in the Washington D.C. in 1948 and is expected to terminate some 33,000 jobs in the liquidation process. It had initially hoped to keep around 400 stores open, but the cash doesn't seem to be there and reportedly won't be able to pay its workers after 60 days.
For the thousands of people who have Toys R Us gift cards and Babies R Us gift cards, this means spending them or losing cash.
For customers holding gift cards of businesses that have entered the liquidation process, time is of the essence. People with Toys R Us gift cards that still have money on them, must be spent the gift cards or they will expire in the next 30 days.
At this time gift cars can not be redeemed for cash, though New York Senator Chuck Schumer is urging the company to cash out unused gift cards.
When national book store chain Borders when bankrupt and closed its stores in 2011, a staggering $210 in gift cards went down the drain.
If you have an item that you would like to return, the company maintains its 90 days after purchase return policy with receipt. Though that will likely change the second liquidation sales begin. So message here is, spend that toy money asap!
If you have cash on a Toys R Us gift card and but aren't sure if you have enough to cover that Hot Wheels track you've had your eye on, you can check the gift card balance.
The toy store chain has a link on its website that will allow you to check the gift card balance. All you have to do is type in the gift card number and pin number. You can check your balance here.
The pop up image on the link should look like this: