ALBANY – On the heels of swirling reports concerning the future of retailer Toys R Us, U.S. Senator Charles Schumer announced Wednesday that he is urging the Federal Trade Commission (FTC) to step in amidst very real and serious concerns for the company’s longevity, particularly as it relates to gift cards purchased by consumers.

Schumer is asking the FTC to take an immediate look into the company to ensure no laws are being violated as a rumored liquidation process ensues, and most importantly, to ensure consumers have time to get cash back for unused gift cards. Schumer also urged the FTC to publish consumer education around the difficulties surrounding gift card redemption once a retailer enters bankruptcy.

“With the entire Toys R Us operation at risk of shutting its doors for good, I am urging the company to redeem outstanding gift cards for cash so they are not as worthless and unwanted as a lump of coal in a stocking,” said U.S. Senator Charles Schumer.