Toys R Us Canada maintains it's still business as usual, even as its United Kingdom counterpart announced it would shutter all 75 locations in the country.
Charles Schumer has asked the Federal Trade Commission to protect consumers holding Toys R Us gift cards that could become worthless if the toy retailer moves forward with a liquidation plan.
The 82 Canadian stores will remain open for business and the company will continue to honour its existing customer policies and baby registry, gift card and loyalty point programs, said Clint Gaudry, Toys "R" Us Canada's vice-president of marketing and store planning.
According to the Wall Street Journal, the collapse threatens up to 33,000 jobs; the iconic toy retailer has more than 700 stores in the U.S.
Toys R Us could file a court motion by the end of Wednesday that would set in motion the liquidation and closing of the chain after more than 50 years in business, CNBC reported.
Toys "R" Us Canada said it is operating as usual, repeating the message it gave last week when it was reported that Toys "R" Us would liquidate its USA operations after filing for bankruptcy.
He said the company, after receiving new debt financing before the holiday shopping season, gave consumers the confidence to buy gift cards from Toys R Us.
Schumer said it would be a "sad toy story" if consumers "got gamed by a Toys R Us closure and were left holding useless gift cards that were meant to bring a smile to the face of a child".
Ideally, consumers would be able to redeem the gift cards for cash, Schumer wrote.