What's the Deal: Consumers beware of liquidation sales

All Toys R Us and Babies R Us locations will have liquidation sales but beware.

When you hear the word "liquidation," you automatically assume the prices are deeply discounted, but that isn't always the case.

Before you even head to your closest Toys R Us location, do your homework.

Experts warn liquidators sometimes raise prices before making items down to make you think you're getting a better deal.

Here are six things to keep in mind:

1. If you know what you want, check prices in advance or by using a price-comparison app or by doing a quick internet search while you're in the store so you know if you're actually getting a discount.

2. Don't expect to get any deals online, at least not yet. The liquidation sales apply to the chain's brick and mortar stores only.

3. Check your merchandise and make sure there are no issues. Whatever you buy is a Final Sale. Toys R Us has announced consumers cannot return items from the liquidation.

4. Use your gift cards right away. Toys R Us will accept gift cards for the next 30 days.

5. If you have your eye on something specific, buy it right away since the retailer is no longer re-stocking its stores. And if you have things that require specific Toys R Us parts or accessories, definitely nab those items now.

6. Know that the chain will no longer accept coupons. Babies R Us registry users with "endless earnings" and other rewards must reportedly redeem those by mid-April.

Also, keep in mind prices are likely to be reduced by 20 to 30 percent right away and get slashed further as time marches on.

According to court documents, the company anticipates it will finish liquidating its stores by the end of June.

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