Use your Toys R Us gift cards now!

Use your Toys R Us gift cards now!

Schumer has asked the FTC to "provide a close and expeditious review of this entire process to ensure that no laws are being violated" and to make sure that Toys R Us is taking "every possible step to honor its existing terms of service" on gift cards.

The toy store chain said it plans to honor gift cards for the next 30 days, including Babies R Us gifts cards.

Get to a store quick and use those gift cards. "Otherwise the gift cards will be about as worthless as a lump of coal in your stocking", said Schumer, (D) NY.

The struggling company declared bankruptcy in September.

Customers who are a part of the company's Rewards'R'Us program will be able to use their rewards dollars for the next 30 days, a representative for the retailer said.

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Toys "R" Us was felled by a combination of too much debt and an antiquated business model that could not keep up with Amazon and Walmart. Now, the company appears set to join a growing list of brick-and-mortar stores falling victim to the struggling retail landscape, dubbed by some as the "retail apocalypse".

A company's customers tend to land "pretty close to the bottom of the totem pole" in bankruptcy cases, said Brian Davidoff, a financial restructuring attorney for Greenberg Glusker.

But Toys R Us CEO David Brandon told corporate staff in a speech at company headquarters that it will maintain the Babies R Us registry and the web stores for the time being in hopes someone might want to buy that asset, a recording reviewed by The Record in Bergen County, N.J., revealed.

Schumer wrote that the company should honor gift cards particularly after it gave its customers "the "all clear" during the all-important holiday season. If that happens, the secured creditors can raise an objection.

If that happens, it's unlikely that customers would receive a cash redemption, Davidoff explained.

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