- Babies R Us outlets are among the stores that Toys R Us is planning to close or sell as part of a liquidation.
- The company said it will accept Toys R Us and Babies R Us gift cards and honour loyalty-based “rewards dollars” and “endless earnings” for the next 30 days.
- Toys R Us will continue to maintain its website, including its baby registries, for the time being.
Toys R Us is preparing to sell or close all of its US stores, including its Babies R Us stores.
The company said it will accept Toys R Us and Babies R Us gift cards and honour loyalty-based “rewards dollars” and “endless earnings” for the next 30 days. After that, the value on the gift cards will be useless.
For the time being, Toys R Us will continue to maintain its website, including its baby registries.
If all stores are closed, the website would likely be the last part of the business to shut down, according to Joshua Friedman, a legal analyst at Debtwire.
If Toys R Us ends up finding a buyer for its most profitable stores, then the online business could be sold off as part of that deal, he said.
The company said in a bankruptcy filing Thursday that it must liquidate because it is set to run out of cash by May.
More on Toys R Us’ demise:
- Here’s why Toys R Us couldn’t be saved
- Toys R Us will close or sell all of its US stores
- Toys R Us is closing all its US stores – and blowout clearance sales could begin within weeks
- Toys R Us gift cards will expire in 30 days
- These companies will be the biggest winners when Toys R Us closes its stores
- We visited one of the last Toys R Us stores to open – here’s what it looked like
- Toys R Us says a ‘perfect storm’ killed the toy chain – and it blames Amazon, Walmart, and Target