"One notable drag on its books is a vast amount of unredeemed gift cards. According to the court documents, as of late November, Toys “R” Us had roughly $36 million in outstanding gift card obligations. The company is asking for the court’s approval to honour the cards for a period of 14 days."

Gift cards: the crack of retail in Canada.

#toysrus #economy #retail #canada

https://financialpost.com/business/toys-r-us-canada-files-for-creditor-protection/wcm/55bc94b1-7961-4bba-a2dc-5dceec8a9e90