A swan-song for Toys R Us, the going-out-of-business sale

NEW YORK -- Toys R Us opened its doors Friday with a going-out-of-business sale, offering clearance discounts at all 735 U.S. stores, including Babies R Us.

The company did not say how big the discounts will be or when it expects stores to shut down. Earlier this month, the company said it would close or sell all its stores after operating for months under bankruptcy protection.

Here's what you need to know:

Can I use my gift cards?

Yes, but only until April 21.

Will there be liquidation sales on its websites, too?

No, only in stores.

Can I return items I buy during the closing sales?

No.

What about Babies R Us registries?

The Babies R Us website will be open for a "limited time," the company said, but did not provide specifics. It urged customers to write down the products on their registry before it disappears. It is no longer accepting new baby registries.

Can I use a coupon?

No, it will no longer accept any type of coupons in stores or online, including ones that recently were mailed.

Can I pay with my Toys R Us credit card?

Yes, both Toys R Us credit cards can be used during the closing sales, but it won't offer the discounts that come with the cards, and no loyalty points will be earned on purchases. Synchrony Financial, which operates the credit cards for Toys R Us and other retailers, said in the past it has offered to transfer cardholders of out-of-business retailers to different cards, but it hasn't made a final decision for Toys R Us credit cards. Cardholders with a balance will still have to pay it, even if the cards can't be used anymore.

What if I have items on layaway?

The company said it is sending notices to customers who have items on layaway. They will have 21 days after the notice to pay the remaining amount or ask for a refund on their deposit. Those who don't take any action will lose their deposit and the item may be sold to someone else.