Toys R Us prices cut by up to 30 percent as going-out-of-business sales begin

Toys R Us is kicking off store closing sales around the country Wednesday with discounts of up to 30 percent off. Those discounts are expected to get steeper as liquidators work to empty the closing stores by April.

Shoppers will be offered "deep discounts on top brand names across all product categories," according to an announcement Wednesday from the liquidation companies hired to run the sales.

In addition to marking down existing inventory at Toys R Us and Babies R Us stores, the liquidators said they also plan to bring in new merchandise "at even deeper discounts." Bringing in new merchandise not previously sold in stores is a common practice in going-out-of-business sales.

Discounts and deals offered at the closing stores will not be matched by other Toys R Us and Babies R Us stores that are remaining open.

Gift cards and customer loyalty programs will continue to be honored at the closing stores.

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Eleven stores in New Jersey are closing, including a Babies R Us in Paramus and a Toys R Us in Wayne.

Toys R Us is closing approximately 170 stores in the United States as it reorganizes in an effort to emerge from bankruptcy.