Toys "R" Us CEO Addresses Bankruptcy In Letter To Customers

The news that Toys "R" Us was filing for Chapter 11 bankruptcy was upsetting for collectors everywhere, but the CEO wants to ease your mind as the holiday season approaches.

CEO Dave Brandon released an official statement to customers via email, aimed at letting them know Toys "R" Us did this voluntarily, not because it was forced to.

Brandon first stressed that the filing is "designed to strengthen our financial position and allow us to reinvest in our business. This was a proactive and voluntary move that gives us the opportunity to reset and do the things necessary to continue to earn your business now and well into the future. "

He also let customers know that the company isn't going anywhere. "I want to assure you that you can continue to shop with us with confidence, in store or online," Brandon said. "Your local Toys"R"Us and Babies"R"Us stores are open and our team members are standing by ready to help. You should also know that we are continuing to honor our various customer programs including Registry, Endless Earnings, Geoffrey's Birthday Club, gift cards and warranties."

With the reassurances out of the way, Brandon listed out the various Holiday promotions that the company is offering this year, and there are some good ones in the bunch. The first is the Price Match Promise, which says that if you find a cheaper toy or baby product at a competitor, Toys "R" Us will match the price.

That deal gets a nice bonus too, as anytime you price match thru 12/24 they'll donate an additional $1 to Toys for Tots.

They're also kicking off a program called Parents Night Out. On Sunday, November 12 and Thursday, November 30 customers can come to the store and get access to a shopping expert, toy demonstrations, games, and treats like a hot chocolate bar to help them shop for the kids in their lives.

Normal options like Layaway will also be available, but the company will give one layaway customer a $200 gift card each day from November 5 to December 9. Customers will also have access to Play Lab, which allows kids to test drive the newest and latest toys, as well as Play Chaser, an AR app that will allow shoppers to take part in an interactive playground.

Brandon ended the email with one more assurance. "No matter how you choose to shop with us, know that you can continue to count on us for an outstanding experience," Brandon said. "We have been in the business of bringing joy to kids for nearly seven decades, and we welcome the opportunity to serve you this holiday season and long into the future."