Toys R Us liquidation sale postponed: What you need to know

The man who founded Toys 'R' Us died Thursday, right as the chain prepares to close its doors more than 70 years since he founded it.

Charles Lazarus started the company as a 25-year-old in 1948 and remained the CEO until 1994.

He was 94 years old.

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The chain was supposed to start a liquidation sale Thursday, but it was canceled at the last minute.

The sales are now expected to start Friday, CNN Money reported.

But no matter when the sales start, experts told CNN Money that bargain hunters should be ready to go as soon as the sales begin.

No reason was given to shoppers and employees at the Cranberry location told Channel 11 they didn't know why the liquidation sale was canceled at the last minute.

A letter that corporate sent to the employees talked about how this situation is fluid and there is no new date set just yet for the liquidation sale.

Toys R Us announced last week it was closing or selling all of its stores in the United States, but shoppers need to act fast.

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Industry experts say shelves will clear out quickly and the sale may only last about 30 days.

Inventory on the most popular toys is already slim, and whatever is left will be the first to go.

People with Toys R Us gift cards and Endless Earnings Gift Cards should use those first.

Toys R Us will not accept them after April 20.

Starting Thursday, stores will not be accepting coupons or rewards.

If you have a return, Toys R Us will accept items for the next 30 days, but anything purchased during the liquidation sale is final and cannot be returned.

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Amazon, one of Toys R Us’ most fierce competitors, is apparently considering buying up some of the empty store fronts once Toys R Us officially closes.

Bloomberg is reporting that Amazon would like to expand its brick-and-mortar presence by acquiring some of those locations.

The Seattle-based company recently bought Whole Foods and opened its own line of bookstores and convenience stores.

>>RELATED: What happens to Toys R Us employees, gift cards?

Toys R Us is closing 735 locations, and will lay off about 31,000 employees.

Before you shop, check your location. Some stores were part of the initial closing announcement and have been liquidating for weeks.

A plan could be in the works to save the toy store chain.

Investors have pledged more than $200 million and hope to raise more to buy up to 400 Toys 'R' Us stores.

Cox Media Group