What you need to know about Toys R Us closing

Toys R Us to close all 800 of its US stores

A spokesperson for Toys "R" Us told USA Today that the company will honor the gift cards consumers have for the next month, so you have 30 days to either use it or lose it.

Toys R Us could file a court motion by the end of Wednesday that would set in motion the liquidation and closing of the chain after more than 50 years in business, CNBC reported.

And unfortunately, most retail experts believe Toys R Us' days are numbered.

Toys R Us to close all 800 of its US stores

You'll want to spend any Toys R Us gift cards you might have soon. They could be heard telling customers they had little information to share and don't yet know when the stores will close.

Schumer sent a letter to the Federal Trade Commission, asking the agency to publish consumer education around the difficulties surrounding gift card redemption once a retailer enters bankruptcy.

A shopping cart sits in the parking lot at a Babies R Us store on January 24, 2018 in Chicago. "Consumers deserve the chance to turn their Toys R Us gift cards into cash before it is too late and the FTC can help ensure any laws to help this happen are being followed in real time".

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If Saturday's batting excellence is to be a catalyst for resurgence, Bangladesh know their bowling must quickly shape up. If the bowling department can step up a little more, we will be able to do even better", he added.

While Toys "R" Us hasn't announced any big store-closing deals yet, consumers can likely expect hefty discounts in the coming weeks.

At this time gift cars cannot be redeemed for cash, though New York Senator Chuck Schumer is urging the company to cash out unused gift cards.

There are no guarantees you'll be able to recover the full value if and when the company declares bankruptcy. They come in here and they sample and they ride the bikes and pick out and it's nearly like Christmas every day for them.

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So yes, in the near future (and the company hasn't said exactly when), Babies "R" Us registries will cease to exist.

"If you buy a gift card from a company that files for bankruptcy or goes out of business, it may be worth less than you had anticipated", Dorman said.

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