Toys 'R' Us likely to sell or close all U.S. stores

Cornelia Mascio
Marzo 15, 2018

Struggling Toys "R" Us reportedly told its workers Wednesday it'll sell or close all its USA stores - and Sen. "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".

It's the same message the company repeated last week when it was reported that Toys R Us would liquidate its USA operations after filing for bankruptcy.

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.

Meanwhile, the United Kingdom branch of Toys "R" Us announced Tuesday it would shutter all 75 locations in the country, and U.S. CEO David Brandon told the company's workers that it plans to file liquidation papers Wednesday evening and sell or close all its U.S. locations, according to the Wall Street Journal.

"It appears the music is about to stop for the iconic retailer and consumers could be left in the lurch when it comes to the loss of a whole lot of money in unspent gift cards", Schumer said in a statement.

Schumer said it would be a "sad toy story" if consumers "got gamed by a Toys R Us closure and were left holding useless gift cards that were meant to bring a smile to the face of a child".

In his letter, Schumer expressed concern about fate of the millions of dollars worth of outstanding gift cards, many of which were purchased around the recent holiday season.

Ideally, consumers would be able to redeem the gift cards for cash, Schumer wrote.

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