Shoppers with gift cards from Toys “R” Us Canada have only until the end of Monday to spend them, as the company moves ahead with court-supervised restructuring.
The retailer confirmed that it will stop accepting gift cards after Monday, bringing an end to a 14-day grace period approved by the court earlier this month. The temporary extension was granted after the company sought creditor protection while struggling to keep up with its financial obligations.
According to court filings, the toy chain had more than $36 million worth of unredeemed gift cards outstanding at the time of its filing. A judge allowed the company to continue honouring those cards for two weeks, giving customers a final opportunity to use their remaining balances.
Beyond the gift card deadline, the company’s future footprint in Canada remains uncertain. The court has also authorized the retailer to proceed with liquidating additional stores if lease negotiations with landlords break down. Of its 22 remaining locations, some could face closure if new agreements cannot be reached.
For families who have long associated the brand with birthdays and holiday shopping trips, the latest development signals another difficult turn for the once-dominant toy chain. Customers are now being urged to act quickly after Monday, any unused gift card balances will no longer be valid.
The company’s restructuring efforts continue as it works to stabilize operations in a challenging retail landscape.
