If you’re holding onto a Toys R Us Canada gift card, today is the absolute last day to use it. The iconic toy store chain will no longer accept gift cards after today, marking a significant step in its ongoing restructuring process.
This decision stems from the creditor protection proceedings initiated earlier this month as Toys R Us Canada faced mounting financial difficulties. Court filings revealed a substantial $36 million in outstanding Toys R Us gift card liabilities. A judge granted the company permission to halt gift card acceptance after a 14-day grace period, which concludes today.
What Does This Mean for Gift Card Holders?
Essentially, if you haven’t redeemed your Toys R Us Canada gift card balance, you risk losing it. The company has been actively working to address its financial challenges, and this measure is part of that effort. Unfortunately, online purchases are not an option. Prior to filing for creditor protection, Toys R Us Canada temporarily suspended e-commerce sales to facilitate a website overhaul. Online sales have not been reinstated, meaning all redemptions must occur in-store.
Store Closures and Liquidation Sales
The situation is further complicated by potential store closures. The judge has also authorized the retailer to liquidate assets from its remaining 22 stores if lease negotiations with landlords are unsuccessful. This means the window to use your Toys R Us gift card is shrinking rapidly, as stores may close with little notice.
This news follows a challenging period for the retailer, and represents a significant shift in the Canadian toy market. Consumers are encouraged to visit their local Toys R Us Canada store today to utilize their gift card balances. For more information on creditor protection proceedings, you can visit the official website of the Innovation, Science and Economic Development Canada.
This report originally appeared on The Canadian Press on February 16, 2026.
