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PSA NOW OFFICIAL - Toys R Us closing all stores, 30 day deadline for gift cards announced but I'd use those gift cards or rewards TODAY!
Now official - TRU is closing ALL stores. Officially they've said you have 30 days to use gift cards as of 3/15/18, but the store is already getting picked clean and you're not guaranteed to be able to use them that long. I'd still use those gift cards TODAY if you don't want them to be worthless, just in case.
Also remember to check your rewards total and use those points/certificates as well! There's 30 days announced on those too.
http://money.cnn.com/2018/03/14/n...index.html
Store locator: https://www.toysrus.com/storeloca...gle
Also remember to check your rewards total and use those points/certificates as well! There's 30 days announced on those too.
http://money.cnn.com/2018/03/14/n...index.html
Store locator: https://www.toysrus.com/storeloca...gle
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Last Edited by silcam
April 16, 2018
at
05:26 AM
Per https://m.toysrus.com/cobrand/hel...iness-faqs, gift cards will be accepted through 4/21 :
"Gift cards, including e-gift cards, will continue to be honored through and including April 21, 2018."
USA Today, March 15th: Toys R Us gift cards are good for next 30 days (until April 15th)
https://www.usatoday.co
==
FAQ:
Q) Does this also affect Babies R Us?
A) Yes. Babies R Us is a division of Toys R Us, which is currently in Chapter 11 bankruptcy. Should this move from Chapter 11 to Chapter 7 Liquidation, this would affect all Toys R Us and Babies R Us stores.
Q) When other stores went bankrupt, they still honored the gift cards. Why not here?
A) As USA Today confirms [usatoday.com], in either Chapter 11 bankruptcy or Chapter 7 Liquidation, the retailer would have to ask the court for permission to continue to accept their gift cards. They don't have to ask for this permission, and the courts don't have to grant it. Particularly with Chapter 7 liquidation, the gift cards are often frozen and no longer accepted in the stores. Anyone who holds a gift card can only hope to petition the bankruptcy court for reimbursement. Even if successful, after all the other higher priority creditors are paid off, there may only be enough money left over to pay pennies on the dollar for remaining gift card balances - if that. More often, the cards simply become worthless.
In this instance, Toys R Us did request and received permission to continue accepting the gift cards while under Chapter 11 bankruptcy. As USA Today reports, they also requested and apparently received permission to continue to accept them for 30 days from March 15, 2018 while the chain begins plans to liquidate, although it may be in your best interest to use them sooner rather than later, in case those plans change.
Q) Is this really going to happen? Will Toys R Us really liquidate? Or is this a rumor?
A) Liquidation islikely, but not definite yet. Many legitimate business news outlets including Bloomberg [bloomberg.com] are reporting this, based on people familiar with Toys R Us's bankruptcy process. As Bloomberg notes, there is a remote chance that a rescue deal could still be worked out, but that currently seems unlikely. Update 3/14/18: Toys R Us announced a full liquidation of all stores in the US and UK will begin shortly. There's a chance that up to 200 stores may reopen under the ownership of TRU Canada, but that would happen after the US chain is liquidated.
Q) But I talk to (insert store employee/manager here), and they said....
A) All the store employees and management know and are allowed to comment on is what has been officially announced thus far, which is that TRU is in Chapter 11 bankruptcy reorganization, some stores are going to close as a part of the process, but the rest are currently open for business with no currently announced plans to close. They have no more insight into the bankruptcy process than you or I. Should the liquidation happen, they'll likely find out at almost the same time that the rest of us find out (possibly a few minutes before).
Q) I have a gift card. When should I use it?
A) As soon as possible for best selection. Given that the chain will be liquidating, they will be unlikely to receive any new inventory. This means once stuff is gone, it's (probably) gone for good. As noted above, you will likely have up to 30 days from March 15 to use the gift card, but it is in your best interest to use it immediately.
"Gift cards, including e-gift cards, will continue to be honored through and including April 21, 2018."
https://www.usatoday.co
==
FAQ:
Q) Does this also affect Babies R Us?
A) Yes. Babies R Us is a division of Toys R Us, which is currently in Chapter 11 bankruptcy. Should this move from Chapter 11 to Chapter 7 Liquidation, this would affect all Toys R Us and Babies R Us stores.
Q) When other stores went bankrupt, they still honored the gift cards. Why not here?
A) As USA Today confirms [usatoday.com], in either Chapter 11 bankruptcy or Chapter 7 Liquidation, the retailer would have to ask the court for permission to continue to accept their gift cards. They don't have to ask for this permission, and the courts don't have to grant it. Particularly with Chapter 7 liquidation, the gift cards are often frozen and no longer accepted in the stores. Anyone who holds a gift card can only hope to petition the bankruptcy court for reimbursement. Even if successful, after all the other higher priority creditors are paid off, there may only be enough money left over to pay pennies on the dollar for remaining gift card balances - if that. More often, the cards simply become worthless.
In this instance, Toys R Us did request and received permission to continue accepting the gift cards while under Chapter 11 bankruptcy. As USA Today reports, they also requested and apparently received permission to continue to accept them for 30 days from March 15, 2018 while the chain begins plans to liquidate, although it may be in your best interest to use them sooner rather than later, in case those plans change.
Q) Is this really going to happen? Will Toys R Us really liquidate? Or is this a rumor?
A) Liquidation is
Q) But I talk to (insert store employee/manager here), and they said....
A) All the store employees and management know and are allowed to comment on is what has been officially announced thus far, which is that TRU is in Chapter 11 bankruptcy reorganization, some stores are going to close as a part of the process, but the rest are currently open for business with no currently announced plans to close. They have no more insight into the bankruptcy process than you or I. Should the liquidation happen, they'll likely find out at almost the same time that the rest of us find out (possibly a few minutes before).
Q) I have a gift card. When should I use it?
A) As soon as possible for best selection. Given that the chain will be liquidating, they will be unlikely to receive any new inventory. This means once stuff is gone, it's (probably) gone for good. As noted above, you will likely have up to 30 days from March 15 to use the gift card, but it is in your best interest to use it immediately.
1,143 Comments
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I'm not even sure why someone would get "hundreds of dollars" in TRU gift cards unless they are saving up for a particular item.
(Most) items are usually not cheaper at TRU so any GC savings would be probably eaten up in the higher prices, regardless.
You aren't wrong
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Note that TRU price matches Amazon, etc. from the customer service counter. So complaining about prices is your fault.
I'm not even sure why someone would get "hundreds of dollars" in TRU gift cards unless they are saving up for a particular item.
(Most) items are usually not cheaper at TRU so any GC savings would be probably eaten up in the higher prices, regardless.
um, I was able to get a Graco 4ever seat for my baby boy for 80$ because of the slickdeal on the gift card + the deal on the seat. so... glad I saved it, it was 300 at target when I walked by yesterday.