CROMWELL, Conn. (WTNH) – If you have a Toys R Us gift card, you’re going to want to use it now.
The company says it will honor the store gift cards for 30 days, while all Toys R Us and Babies R Us locations prepare to close for good. The Connecticut Better Business Bureau recommends redeeming those reward points, store credits and gift cards sooner rather than later, because company conditions may force unexpected changes.
“A number of very large, well-known companies have gone out of business in recent years,” said Connecticut Better Business Bureau spokesman Howard Schwartz. “Bankruptcies may be related to poor end-of-year holiday sales, competitive pricing at big box stores and consumers’ changing purchasing preferences in stores and online. From the retailers’ perspective, an online presence is a fraction of the cost of operating hundreds of stores.”Related coverage: Toys ‘R’ Us will close or sell all US storesRelated coverage: Chuck Schumer wants Toys ‘R’ Us to cash out your unused gift cards
All Toys R Us locations, including the nine in Connecticut, will be closing. If you’re willing to take a gamble, you can wait for liquidation sales over the next several weeks while the company clears its shelves. The only catch is you probably won’t be able to exchange or return any items purchased during those sales.