Last Chance for Toys “R” Us Canada Gift Cards – Monday Deadline Looms
Toys “R” Us Canada shoppers are facing a ticking clock. If you’ve been holding onto a gift card, Monday is the absolute final day you can use it. The iconic toy retailer, struggling under financial pressure, has announced it will no longer accept gift cards after that date. This comes amid ongoing creditor protection proceedings that the company entered earlier this month, as it wrestles with mounting debts and operational challenges.
Court documents reveal that the retailer owes more than $36 million in outstanding gift card obligations alone. The Ontario Superior Court gave the company a 14-day window to honor those cards before ceasing acceptance and that window closes Monday. Shoppers who hoped to make online purchases are out of luck—e-commerce sales have not resumed following a pause to revamp the website. That means gift card holders must shop in-store if they want to use their remaining balance.
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The situation highlights the broader struggles of Toys “R” Us Canada. Over the past two years, the company has closed 53 stores, citing inflation, rising labor costs, supply chain disruptions and a shift toward online shopping. Currently, 22 stores remain open, but more closures could be on the horizon. The company has also laid off employees, with current figures showing around 510 staff after recent reductions.
Judge Jane Dietrich has authorized the retailer to conduct further liquidation sales and potentially close more stores, with oversight from a court-appointed third party guiding the company through creditor protection. The goal, as outlined in court filings, is to provide the retailer with stability while it explores options to sell the business and restructure its operations.
Creditors include major toy brands like Lego, Hasbro, Mattel, Spin Master and Jazwares, along with prominent landlords across Canada. These companies are owed substantial sums, underscoring the ripple effects this situation could have across the retail and toy industries. With the company under creditor protection until May, the next few months will be critical in determining whether Toys “R” Us Canada can stabilize or continue shrinking its footprint.
For shoppers, this is more than just a deadline. Gift card holders need to act quickly, visit stores and use their balances before Monday. Beyond individual cards, the unfolding story serves as a reminder of the challenges facing traditional retailers in a rapidly evolving market, where consumer habits are shifting and financial pressures can escalate fast.
Stay tuned as this story develops and follow closely to ensure you don’t miss critical updates on store closures, gift card deadlines and what the future holds for one of Canada’s most recognized toy retailers.
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