2018-03-21 / Front Page

Schumer Calls For ‘Toys R’ Us’ Gift Card Refunds

Senator Charles Schumer is calling on federal regulators to let customers redeem unspent “Toys R’ Us” gift cards before the one time retail giant closes its U.S. stores.

Facing approximately $5 billion in debt, the chain filed for Chapter 11 bankruptcy protection in September 2017, Toys R’ Us officials said the chain has struggled to compete with online retailer Amazon and large retailers like Walmart, but sales have continued to fall.

Another problem faced by “Toys R’ Us” has been a new generation of youngsters who prefer playing games on mobile devices, rather than outright purchasing them, a company spokesperson said.

Officials notified employees on March 14th that the chain will sell or close all of its U.S. stores, a move that would result in the loss of up to 33,000 jobs – including that of Geoffrey, the giant giraffe who encouraged generations of “kids of all ages” to “never grow up.”

Schumer said he sent a letter to the Federal Trade Commission, urging the agency to make sure the New Jersey-based chain complies with all laws as it begins to liquidate assets.

“It appears the music is about to stop for the iconic retailer and consumers cold 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 prepared statement.

–Liz Goff

 

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