Toys “R” Us Canada Halts Gift Card Acceptance After Monday
The well-known toy retailer, Toys “R” Us Canada, is ceasing the acceptance of gift cards following Monday. This announcement marks a significant change for customers who hold these cards. The decision comes amid the company’s ongoing creditor protection proceedings, initiated earlier this month.
Details of Gift Card Cessation
Consumers are urged to use their Toys “R” Us Canada gift cards immediately, as the retailer will no longer accept them after this deadline. The company had previously reported an alarming gift card obligation exceeding $36 million.
Background of the Company’s Troubles
Toys “R” Us Canada filed for creditor protection as it faced difficulties in covering its financial obligations. This process began in February 2026, when the company’s struggles escalated. A recent court ruling allowed Toys “R” Us to stop accepting gift cards after a 14-day notice period.
Possible Store Closures
The court has also permitted the retailer to liquidate more of its remaining stores, should lease negotiations with landlords fail. Currently, Toys “R” Us Canada operates 22 locations. The future of these stores remains uncertain as the company navigates its financial challenges.
Key Facts
- Gift Card Acceptance Ends: After Monday, Toys “R” Us Canada will no longer accept gift cards.
- Debt Obligation: The retailer has over $36 million in outstanding gift card obligations.
- Store Operations: There are currently 22 stores that may close if lease negotiations fail.
- Date of Court Filing: February 2026 marked the beginning of creditor protection proceedings for the retailer.
Customers holding gift cards are advised to visit their local store promptly. The situation continues to evolve as Toys “R” Us Canada seeks solutions to its financial difficulties.
