It’s Official: All CNY Toys R Us To Close, Including New Hartford
About 33,000 jobs in the United States are at risk.
“This is a profoundly sad day for us as well as the millions of kids and families who we have served for the past 70 years,” Chief Executive Officer Dave Brandon said in a statement. The company filed paperwork on March 14 to liquidate all it's inventory.
Central New York stores have not yet begun their liquidation sales.
Toys R Us struggled to compete with online retailers like Amazon.com, and stores like Target and Walmart, who also sell toys.
Senator Chuck Schumer is reaching out to find out more about customers' existing gift cards.
According to CNN, NY Senator Chuck Schumer said that once the planned liquidation is complete, gift cards could be "as worthless and unwanted as a lump of coal in a stocking." Schumer reached out to the Federal Trade Commission, asking the FTC to make sure the retailer is doing everything it can to honor the gift cards.