Toys R Us can’t figure out how to go out of business correctly
Legions of bargain hunters showed up at Toys R Us stores Thursday morning expecting to find liquidation sales in full swing, but were disappointed as many locations displayed signs that the liquidation sale has been delayed. Previously stated to start on Thursday morning by company lawyers and TRU representative Amy Von Walter, Toys R Us has postponed the start of the sale.
While a definitive statement has yet to be released, a company spokesman is guessing the liquidation sales could start tomorrow (Friday, March 23). When the sale does start, it’s expected to be extremely fast. The sale will last no longer than 60 days and many stores could be complete within 30 days if stock moves quickly.
Here are a few tips to take advantage of discount prices:
- Use gift cards now. Consumers with Toys “R” Us gift cards and “Endless Earnings” e-cards will be able to redeem these forms of payment until April 15 at TRU or Babies R Us locations. After that, your gift card becomes a worthless piece of plastic.
- Return unwanted items now. TRU locations will accept returns on products purchased before the liquidation for the next 30 days (around April 20). All purchases made during liquidation sales are final; no returns, no exchanges.
- Use your smartphone to research price points. Liquidators will often set discounts based on the MSRP, not the store’s regular sale price. In the early days of the liquidation, the sale price could actually be higher than normal.
- Timing is important. Liquidation sales typically last 8 to 10 weeks, but this sale will be much faster. Discounts will probably start at 20% (rather than 10%) and stock will likely start to dwindle in week 2, week 3 when discounts hit 40%. If you wait to week 4, the item you want may already be gone.
- Check the product thoroughly before purchase. You can’t return anything, so check to see if all parts are included. Also, use a credit card. If the product is damaged, you can usually dispute the charge and get your money back.
- Move your gift registry. If you are going to be a parent soon, move your Babies R Us gift registry to a new retailer before the end of April. Look at options at Target, Amazon and Walmart for similar product selections.
Best of luck on your Toys R Us bargain hunting. Let us know in the comments below if you scored any truly spectacular deals.