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You and the kiddos have likely heard the news: Toys “R” Us filed for bankruptcy and is planning to close some storefronts, including 12 in New Jersey. The Wayne-based company has approximately $5 billion of debt and will close around 180 locations as a result. How will this affect you, the shopper? Here, we answer your biggest questions:

Which New Jersey locations are closing?

Say goodbye to stores in these Garden State locations: Phillipsburg, Eatontown, Bridgewater, Union, North Brunswick, Burlington, Cherry Hill, Wayne, Paramus, East Hanover, Elizabeth and Mt. Olive.

When will stores close?

Closings will begin in February and continue through April, as well as going-out-of-business sales.

What about Babies "R" Us?

Some store locations will combine Toys "R" Us and Babies "R" Us locations.

Can I still use my gift cards?

Even if the Toys "R" Us location closest to you is shutting its doors, that doesn't mean your gift cards are invalid. You may have to travel farther, or stick to online shopping. According to Consumerist, you should use your gift cards as soon as possible because they may have no value very soon. The store filed for a “Chapter 11 Bankruptcy,” which may void the store’s past gift cards. Better safe than sorry: Make sure you get to Toys “R” Us while they’re valid so your kids can snag that toy.