The children’s superstore has officially gone into administration despite months of back-to-back failed rescue talks.
All stores will continue trading until further notice, but customers have been warned to act quickly if they still have gift cards.
Stores are selling hundreds of products at 25 per cent off their standard retail price in a major closing down sale.
However, gift cards will no longer be accepted from 11 March.
Toys R Us have said on their website: “Gift cards and vouchers will be honoured until Sunday, 11 March. There are no refunds for cash value on any gift cards.
“But customers are encouraged to redeem such vouchers as soon as possible as stores may be subject to closure without notice.”
All stock will be subject to clearance discounts and other special promotions, the firm added.
Edinburgh’s Craigleith Toys R Us has been among stores to slash prices with immediate effect, with discounts of up to 25 per cent throughout the store.
The chain’s Livingston outlet is among those set to close.
Toys R Us was founded in 1985 and is one of the UK’s largest toy retailers with more than 100 stores nationwide and over 1,500 stores worldwide in 33 countries.
The announcement the store had gone into administration comes two months after its US parent company filed for bankruptcy.
The move will also put 3,000 jobs at risk in the UK, including 800 Scottish jobs, although trading will continue online and in stores until further notice.
Shoppers are no longer able to order goods online or use the “click and collect” tool. All existing orders will be fulfilled, “subject to the stock continuing to be available”.
Toys R Us added: “No exchanges for non-faulty items may be accepted and no refunds will be given.”
Anyone who has a concern about their item or wants a refund/exchange has been told their first point of call should be to go in store to try and resolve the issue.