The Toys ”R” Us location in Lethbridge. (Image Credit: Lethbridge News Now)

By David Opinko / The Canadian Press

Toys “R” Us files for creditor protection, 14 days to use gift cards

Feb 4, 2026 | 11:22 AM

Anyone who has a Toys “R” Us gift card in their wallet has just 14 days to use it.

The toy retailer has filed for creditor protection as it stares down at least 160-million dollars in unpaid bills.

Its 22 current stores will remain open during the creditor protection period.

Toys “R” Us Canada currently operates three locations in Alberta – two in Edmonton and one in Lethbridge.

It warns that it may reduce the number of locations it operates even further.

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A notice posted to the Lethbridge location states that gift cards can be used in accordance with their existing policies until Feb. 16, 2026, and that they will no longer be selling gift cards.

Customers can only return or exchange items purchased before Feb. 3. All items sold after that date are final until further notice.

Toys “R” Us Canada has closed 53 stores in the past two years and has been facing a succession of lawsuits from unpaid suppliers and landlords.

The toy retailer says its restructuring could see its footprint further diminished or the whole business sold to new owners.

There is no word at this time on which stores may or may not close.

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(The Canadian Press)