Toys R Us gift cards are good for the next 30 days

Henrietta Strickland
March 17, 2018

Wednesday morning, CNN reported that Toys R Us would be closing all of its stores in the UK. In January, it announced it would close 170 stores with clearance sales ongoing now.

And a judge ruled against those customers and ruled that the unused gift card money would not be refunded.

Toys R Us plans to honor gift cards for the next 30 days.

Toys R Us said its gift cards - as well as loyalty program perks - will expire in 30 days.

CEO David Brandon told employees Wednesday the company's plan is to liquidate all of its USA stores, according to an audio recording of the meeting obtained by The Associated Press.

Cara Smith, a market reporter with Houston Business Journal, said the closings will affect about 33,000 jobs in the U.S. Hasbro and Mattel will turn to Walmart and Target, which have less shelf space than Toys R Us, according to the AP.

Brandon said on the recording that the company would be filing liquidation papers and there would be a bankruptcy court hearing Thursday. It would be one of the biggest retail liquidations since The Sports Authority filed for bankruptcy in 2016 with 14,500 workers and closed more than 460 stores.

"Spread thin across too many countries, with too many stores and too much debt, it boxed itself into its current fate", he said in an emailed statement.

Shoppers with gift cards also took to social media to look for answers on how long they would be honored.

The company got its start in 1948, when founder Charles Lazarus opened a baby furniture store in Washington, D.C., amid the postwar baby boom.

Jacob Snook was shopping with his wife and their two young children.

Other reports by Click Lancashire

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