After several false alarms, this time it's for real. Toys R Us has announced that it will close all its stores after 70 years in business, including the last remaining store in Maine.

The South Portland Toys R Us location near the Maine Mall in South Portland had dodged several rounds of closings while Babies R Us and the Toys R Us in Bangor were not so lucky. After not turning a profit since 2012, the end has come for all stores.

One thing at the moment is not clear that a lot of people are asking about. What happens to any Toys R Us gift cards that you may have? They are currently being honored, but U.S. Senator Minority Leader is pushing to allow customers time to redeem their gift cards. If the cards are honored is a decision that will reside with the bankruptcy court.

There's no word yet on a closing date for the South Portland store, but its likely clearance sales will begin soon. We'll keep you posted.

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