Roughly 20% of all Toys R Us locations are slated for closure as the retailer reorganizes it’s debit in bankruptcy proceedings. The child’s paradise is getting squeezed as consumers shift spending to internet purchases, as well as fierce competition from larger retailers like Amazon, Walmart, and Target.
Closures are planned all across the country – check out the full list here. There still is a chance some of these locations will remain open in the event they can negotiate better lease terms. The chain will also be combining some stores into shared Toys R Us and Babies R Us locations.
Going-out-of-business sales are expected to begin in February until mid-April when these stores will shutter for good.
Is it safe to hold Toys R Us gift cards? I personally wouldn’t worry much at this time; bankruptcy proceeding are fairly common as retailers restructure their debt. Still, I wouldn’t be surprised if they go out of business entirely within the next few decades.
