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Toys R Us to accept KB Toys’ gift cards
The Toys R Us chain announced today that it will accept gift cards for KB Toys, which filed last month for bankruptcy protection and is expected to go out of business.
KB Toys recently announced that it would no longer accept its gift cards at KB Toys stores.
The Pittsfield, Mass.-based chain filed for bankruptcy in 2004 and emerged nearly two years later as a subsidiary of investment firm Prentice Capital Management, which owns 90 percent of KB's common stock.
KB Toys and Toys R Us are not affiliated.
Wayne, N.J.-based Toys R Us said its gift card "exchange program" would allow for KB Toys gift cards to be exchanged for a coupon worth 15 percent off a toy; restrictions will apply. The card exchange will be valid through Jan. 31.
