Canadians are running out of time to use Toys 'R' Us gift cards
Canadians who still have Toys “R” Us gift cards will need to use them ASAP after the retailer filed for creditor protection.
On Tuesday, the toy store announced that it filed for creditor protection as it evaluates alternatives and implements restructuring, which includes reducing its retail footprint.
So, what does this mean for any of your outstanding Toys “R” Us gift cards?
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Filing for creditor protection doesn’t mean stores will shutter immediately — it temporarily protects a company that’s unable to pay its debt from the reach of creditors while it plans its next move. The retailer says all of its currently active stores will remain open during this process, so Canadians still have a chance to redeem their gift cards.
According to court filings, Toys “R” Us has $36 million outstanding in gift card obligations. While the company recently discontinued giving out new gift cards, it plans to honour the ones issued before the date of the court filing, which was Feb. 3, 2026.
“The Applicant currently anticipates honouring its previously-issued Gift Cards for 14 days after filing,” reads the court filing. This means Canadians have until Feb. 16, 2026, to redeem their gift cards.
It looks like you’ll have to find the closest store near you, as the Toys “R” Us site is unavailable amid creditor protection.
“Our web store is unavailable,” reads the site. “Please visit us in-store for all your needs. We appreciate your continued support.”
Toys “R” Us
The iconic toy retailer closed 53 stores in the past two years and is now facing lawsuits from landlords and unpaid suppliers. It currently has 22 locations across Canada under the Toys “R” Us and Babies “R” Us brands.
According to court documents, the company attributed this move to the dramatic shift in the Canadian retail landscape.
“Persistent inflation, rising labour and occupancy costs, post-pandemic supply chain disruptions, and a structural shift toward e-commerce have materially weakened the performance of traditional brick-and-mortar retailers,” stated the company.
The last Toys “R” Us in B.C. closed in January.