Toys 'R' Us begins massive going-out-of-business sale

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Iconic toy chain Toys ''R'' Us will close all its U.S. stores. (Shutterstock)

Toys R Us opened Friday with a going-out-of-business sale, as the iconic toy chain prepares to close its doors forever.

The retailer is offering clearance discounts at all 735 U.S. stores, including Babies R Us, slashing prices on everything in the store including toys, baby gear, and even diapers.

Last week, the company said it would close or sell all its stores after operating from months under bankruptcy protection.

Related: CEO of Bratz doll company leads effort to save Toys R Us

Here's what you need to know:

CAN I USE MY GIFT CARDS?

Yes, but only until April 21.

WILL THERE BE LIQUIDATION SALES ON ITS WEBSITES, TOO?

No, only in stores.

CAN I RETURN ITEMS I BUY DURING THE CLOSING SALES?

No.

WHAT ABOUT MY BABIES R US REGISTRY?

The Babies R Us website will be open for a "limited time," the company said, but did not provide specifics. It urged customers to write down the products on their registry before it disappears. It is no longer accepting new baby registries.

CAN I USE A COUPON?

No, it will no longer accept any type of coupons in stores or online, including ones that were recently mailed.

CAN I PAY WITH MY TOYS R US CREDIT CARD?

Yes, both Toys R Us credit cards can be used during the closing sales, but it won't offer the discounts that come with the cards, and no loyalty points will be earned on purchases. Synchrony Financial, which operates the credit cards for Toys R Us and other retailers, said in the past it has offered to transfer cardholders of out-of-business retailers to different cards, but it hasn't made a final decision yet for Toys R Us credit cards. Cardholders with a balance will still have to pay it, even if the cards can't be used anymore.

WHAT IF I HAVE ITEMS ON LAYAWAY?

The company said it is sending notices to customers who have items on layaway. They will have 21 days after the notice to pay the remaining amount or ask for a refund on their deposit. Those that don't take any action will lose their deposit and the item may be sold to someone else.

Related: KB Toys may return in Toys 'R' Us absence

(The Associated Press contributed to this report)

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