Toys R Us Canada to stop accepting gift cards as restructuring continues
A judge approved a 14 day period allowing Toys R Us customers to redeem gift cards before the company stops honouring them
Shoppers holding Toys R Us gift cards Canada have until the end of Monday to use them in stores.
The retailer announced it will stop accepting gift cards after Monday as part of its ongoing creditor protection process.
Earlier this month, Toys R Us Canada sought creditor protection as it struggled to meet its financial obligations.
Court documents show the company had more than $36million in outstanding gift card liabilities at the time of its filing.
A judge approved a 14 day period allowing customers to redeem gift cards before the company stops honouring them. That period ends Monday.
The court has also given the retailer permission to liquidate more of its remaining 22 stores if lease negotiations with landlords are unsuccessful.
Toys R Us Canada had previously paused online sales while revamping its website and has not yet restored e-commerce operations.
As a result, customers can only redeem Toys R Us gift cards Canada in physical stores before the deadline.
-
Kim Jong Un's 'reaction' to North Korea embassy 'attack' sparks memes -
EU halts trade vote: Lawmakers insist US must respect deal in tariff probe limits -
Elon Musk’s Tesla enters UK power market, aims to supply electricity to homes -
China passes new ethnic unity law: What it means for minority rights and identity -
Oil prices surge despite global move to release strategic reserves as geopolitical risks mount -
US launches new trade probe targeting China, EU and key allies, sparking tariff fears -
Tornado warning ends for Pittsburgh but tornado watch continues across western Pennsylvania -
Neil McCasland missing for two weeks as FBI expand search in Albuquerque