Time is running out to use Toys ‘R’ Us Canada gift cards amid bankruptcy
Global News
Customers still holding onto Toys 'R' Us Canada physical and digital gift cards are running out of time to use them after the retailer announced it filed for creditor protection.
Customers still holding onto Toys ‘R’ Us Canada physical and digital gift cards are running out of time to use them after the struggling retailer announced Tuesday that it filed for creditor protection in Ontario.
Toys ‘R’ Us has been closing dozens of stores and laying off staff in the U.S. and Canada since 2018 as fierce competition and shifting consumer trends take a toll on the business, with only a few stores remaining open in Canada.
It isn’t clear yet if those stores will stay open for long, and the clock is ticking down to use up old gift cards, according to court documents.
“The Applicant currently anticipates honouring its previously-issued Gift Cards for 14 days after filing.”
The court filings were dated Feb. 2, which means those gift cards will only be redeemable until Feb. 16.
It isn’t clear if gift cards will be honoured after that date or what customers should expect.
Global News has sent a request for information to both Toys ‘R’ Us and the consulting firm overseeing the company’s proceedings, Alvarez and Marsal Canada Inc., about what customers can do if they have previously issued gift cards and do not redeem them by Feb. 16.
A response was not received by publication time.
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