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Toys R Us. What Happens Next?
- Gaynor Humphrey
Do you have a ToysRUs Gift Voucher, or are you using their layaway scheme? Then time to act quickly.
There was a time when ToysRUs was a place which was great for baby gifts or to find a toy for anyone from a one year old all the way up to teenagers.
Not anymore. ToysRUs have given up the struggle and have called in the administrators.
The days when they were the go to destination for everything from Dinosaur toys to Barbie Dolls have gone and time has been called on the once great retailer.
The sadness of seeing another well known retailer go in to administration can be exacerbated if you have something on order with them or if you have a gift voucher for the shop. So what to do next? Legally once a shop has gone in to administration then they do not have to honour gift vouchers so our advice is to spend them as soon as possible.
ToysRus are still accepting gift vouchers, but shops are likely to close quickly and without warning so if you do have gift vouchers it would be wise to use them quickly.
The other thing to be aware of is that ToysRUs will no longer be accepting returns. If you have a toy that you bought in duplicate or error or you just made a mistake then you cannot return it for a refund although at the moment we think they are still offering exchanges.
You can still get a refund if the product is faulty but you have less than 30 days in which to return faulty goods so please hurry if you think you have a faulty product. You can still approach the manufacturer directly but you would need proof of purchase as a minimum. We do not sell our Dinosaur toys to ToysRUs but from what we can gather appeals to manufacturers have already increased so again if you wish to report a fault then the sooner the better.
The other area of caution is if you have used the ToysRUs "layaway" scheme which allowed consumers to pay for goods over a period of up to 12 weeks. You have until 11th March to pick up goods paid for this way so please visit your local ToysRUs store quickly if you have been using this scheme even if you were not to finish paying until after this date. If you do not want the item any longer they won't give you a cash refund but you could use the money for something else.
And if you are not affected by ToysRUs we would also advise caution if you are planning to use Mothercare for any significant purchases. They have issued a profit warning and warned they may breach their banking covenants. This does not mean that they are going to go bust, but it should be a warning not to use their Baby Payment Plan until you can be certain they have stabilised sales. Similarly if you are buying expensive prams or cots be aware that your local store may close quickly and without much warning which may cause you inconvenience.
Remember that if you are buying expensive items it is best to buy them on credit cards (rather than debit cards). This is not to spread the cost but because if you buy something over £100 on your credit card you get insurance from your card provider.
Hopefully this will be of some help but if in doubt please visit your local store asap or consult legal advice.
Best Years Ltd www.bestyears.co.uk