KB Toys Inc. is currently going out of business, liquidating it's 461 retail and outlet stores.

The company is no longer accepting gift cards, nor can they be redeemed at KBToys.com. Consumers who own KBToys.com gift cards may replace them with electronic certificates, but the company has not announced how its bankruptcy filing will affect the usage.

Toys "R" Us is offering an alternative to consumers. Shoppers can show the gift cards at Toys "R" Us stores and receive 15 percent off a toy.

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