Toys "R" Us Offers 15% Discount to KB Toys Gift Card Holders

After filing for bankruptcy protection late last year, beleaguered seller KB Toys stopped accepting gift cards and store credits as of yesterday in all states (some states the deadline was January 1). In an effort to woo consumers, Toys "R" Us announced today that they will exchange all KB Toys gift cards for a coupon valid for 15% off of any one toy item through Sunday, January 31.

“We’re pleased to offer KB Toys shoppers this special savings opportunity,” said Greg Ahearn, Senior Vice President, Marketing and eCommerce, Toys“R”Us, U.S.

As more and more companies fall to the same fate as KB Toys, many consumers will be left in a similar situation -- with gift cards that someone paid money for that no longer hold value. Other gift card "nightmare scenarios" include having to pay fees after a certain period of time or, needing to meet certain conditions in order to make a purchase. Before buying a gift card from any store, it's important to do your research. Caveat emptor !

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Bankrupt Companies Can Mean Worthless Gift Cards