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.