Toys R Us is closing. Six months ago, they filed for bankruptcy, and now the end is approaching. If you are wondering what to do with your gift cards, rewards, and Geoffrey money, the stores will still be accepting them for the next 30 days. They are also accepting returns; however, all closing sales will be final.
Toys R Us has been open for 70 years. After closing, 33,000 people will be out of jobs. There is still a chance that someone could buy the stores and open a smaller-scale version of Toys R Us, but only time will tell.
Stores like Walmart and Target first disrupted Toys R Us sales, making it more affordable and convenient to go toy shopping. Then, with the rise of e-commerce, Toys R Us started loosing even more sales. In 2016, Amazon sold $2.16 Billion in toy sales alone, whereas Toys R Us only brought in $912 Million in online sales.