Toys “R” Us Canada Ends Gift Card Acceptance After Monday
Toys “R” Us Canada has announced that gift card acceptance will officially end on Monday. This decision arises as the retailer navigates creditor protection proceedings amidst financial struggles.
Gift Card Acceptance Ends
The toy chain’s move to cease gift card usage was communicated to customers recently. Today marks the final opportunity for gift card holders to redeem their cards.
Background of the Situation
Earlier this month, Toys “R” Us Canada filed for creditor protection. This legal step was necessary for the company to reorganize its finances while grappling with over $36 million in outstanding gift card obligations.
Judicial Approval for Gift Card Policy
A judge authorized the retailer’s decision to discontinue gift card acceptance. This ruling included a 14-day window for customers to utilize their cards before the final shutdown.
Future of Toys “R” Us Canada Stores
As part of the ongoing restructuring, the court also granted permission for the dormant chain to liquidate stores. Currently, 22 locations are still open and could be affected if lease negotiations do not proceed favorably.
Key Details Summary
- Last Day for Gift Cards: Monday
- Outstanding Gift Card Obligations: Over $36 million
- Number of Stores Remaining: 22
- Announcement Date: February 16, 2026
This situation has raised concerns among customers and stakeholders about the future of Toys “R” Us Canada. The company continues to evaluate its options as it seeks to navigate these challenging financial waters.
