Toys R Us in the UK, as expected, has now entered into administration with 3,000 jobs expected to become redundant in the coming weeks.
Now that administrators have taken over to manage the liquidation of the business, there are some immediate changes to the company’s policies.
REFUNDS AND EXCHANGES
There will no longer be refunds or exchanges issued on goods that are not faulty. So you can longer expect to return an item because you change your mind about the purchase. However, if you have purchased goods that are faulty you will still be entitled to a refund in line with your statutory rights.
GIFT CARDS
For the time being gift cards can still be spent in-store. I encourage you to use up any remaining balances on gift cards as soon as you can. I believe it is likely that once the final liquidation sale begins, the administrators will withdraw acceptance of this method of payment.
The company will not refund the balance of existing gift cards into any other form of payment. Toys R Us will no longer issue gift cards.
GOLD CARD AND R BABY CLUB LOYALTY SCHEME
The Gold Card and R Baby Club loyalty cards will no longer be usable. No more points will be issued, customers will no longer be able to join the scheme.
TAKE TIME TO PAY CREDIT AGREEMENTS
If you have recently settled your Time to Pay agreement but have not collected your purchases, then the administrators say you should collect your goods from the store as soon as possible.
If you have not finally settled your Time to Pay agreement then you will need to attend your local store by Sunday 11 March 2018 and either pay the balance or choose alternative goods that exceed the value of the deposit.
According to the Toys R Us website, “Pay the balance for the merchandise they have included in their Take Time to Pay Agreement. The price of the merchandise will be the price in store on the day the customer settles the Take Time to Pay Agreement less the deposit that they have already paid…”
Or you can, “Purchase alternative goods that exceed the value of their deposit.”
The company will not issue cash or any other kind of refunds in respect of deposits paid prior to the company entering Administration.
CLOSING DOWN SALES
There are already closing down sales being conducted in 25 Toys R Us stores. However, there is not much left in these store as these sales have been going on for some weeks and discounts are as much as up to 80% off. For the time being the other stores will trade with its current prices and programme of promotions until administrators decide to start liquidation sales.
When closing down sales do begin – be quick! The most popular stock clears out within days. Collectors, scalpers and even the owners of other toy shops will bulk buy the most desirable products, such as LEGO and action figures at the initially modest early discount prices.
The 25 stores that are already running closing-down sales are:
- Aberdeen
- Basingstoke
- Belfast (38 Mill Road, Newtownabbey)
- Birmingham
- Bolton
- Bradford
- Brislington
- Cambridge
- Cardiff (International Sports Village)
- Derry City
- Doncaster
- East Kilbride
- Exeter
- Hayes
- Kirkcaldy, Fife
- Leicester
- Livingston
- Old Kent Road
- Plymouth
- Scunthorpe
- Shrewsbury
- Tamworth
- Tunbridge Wells
- Watford
- York
Keep your eyes peeled for news on when closing down sales begin in the other Toys R Us stores by checking The Toy Detectives news department.
The joint administrators appointed today are Arron Kendall and Simon Thomas of Moorfields Advisory Limited. Further information can be found on the Toys R Us website.