Toys R Us Offers Discount in Exchange for Worthless KB Toys Gift Cards
Tuesday January 13, 2009
Toy Giant Toys R Us made an announcement that it would hand out 15% discount coupons in exchange for KB Toys gift cards, which are now worthless. KB Toys had earlier said that it would no longer honor gift cards after filing for bankruptcy late last year. This went into effect on January 1st, 2009 in most states and on January 12th, 2009 in the remaining few states. This applies to gift cards bought at a KB Toys store. Customers can exchange their KB Toys gift cards for a 15% discount coupon which can be used towards the purchase of a single toy item at a Toys R Us store. The Toys R Us offer is valid until the end of January 2009.
Customers who purchased a KB Toys gift card online at KBToys.com can still fill out an online form on the KB Toys website to claim an electronic gift certificate which can be redeemed towards a toy purchase on the KB Toys website.
In essence, this a pretty good business tactic by Toys R Us. Toys R Us jumped on the opportunity to make some extra sales and at the same time, is providing some relief to KB Toys gift card holders who didn't realize what they were in for when they purchased/received their gift cards.