New Jersey-based toy retailer Toys R Us announced last week that it would begin liquidation sales as it prepares to close or sell all of its stores in the United States and Canada after bankruptcy reorganization efforts collapsed.
Shoppers looking for great bargains beware, liquidation sales start slowly. Discounts now are only from 10-20 percent. Customers report rewards points are not being accepted.
The company said gift cards would be honored only until April 15.
Locally, the retailer operates toy and baby stores in Burbank, Orland Park and Joliet. A toy store in Matteson has been holding its liquidation sale for several weeks.
Toys R Us will close all of the stores by June, but they may close earlier if they sell off all remaining inventory.
Workers will not receive any severance pay, the company said in a letter sent to employees.
Toys R Us has been operating under bankruptcy protection since September.