All across the country, people are mourning their childhoods following the news that Toys R Us will be closing all of its nearly 800 locations. While this is certainly sad news for the 33,000 people who may lose their jobs, there may be a silver lining for shoppers: The bankrupt retailer will begin liquidation sales on March 22, and customers will be able to take advantage of some steep discounts.
Toys R Us began going-out-of-business sales in February. The liquidation sales, in which assets are distributed to creditors, will have items continually discounted by about 25 percent each week. All sales on liquidated items will be final.
The liquidation sales should be complete by the end of June, though some stores may close before then if inventory sells out.
However, many toy manufacturers that supply Toys R Us are not on board for the liquidation. More than four dozen manufacturers, including Lego and Mattel, have filed objections with the plan. Their attorneys state that the companies are still owed large amounts of money for products shipped to stores earlier.
Nevertheless, some prices are already being slashed mightily. Here are some of the deals you can expect to see. Fisher-Price Toys, including Laugh & Learn Smart Stages Smart Phones, Baby’s First Blocks, and the Chatter Telephone Pull-Along Toy are being sold for $5.00 (regular price: up to $9.99).
A lot of baby gear, including car seats, strollers and high chairs, has been marked down by as much as 40 percent.
Although you can certainly snag some deals, liquidation sales do not necessarily guarantee that you’re getting the lowest possible price on a product. While an item will be discounted from its original price, you may still be able to find it cheaper at another outlet, like Amazon, Target or Walmart.
You can use a price comparison app like RedLaser to ensure you’re getting the best possible price. Keep in mind that while discounts will get steeper as the sales wear on, selection will also become more limited.
So if you’re not picky, you can get some inexpensive items for children and babies in your life — but if you’re looking for a specific item, you may want to pounce before they are gone!