Toys R Us is preparing to sell off inventory in all its U.S. stores. (Phil Noble/Reuters)

Toys R Us kicked off its going-out-of-business sales on Friday, a week after announcing plans to sell or close all its U.S. stores. Hundreds of Toys R Us and Babies R Us locations are scheduled to close in coming months, which means the company has a lot of inventory to sell. Here’s what you should know before you begin shopping.

1. First things first: Where can I find deals?

Liquidation sales will begin at all Toys R Us and Babies R Us locations this week, according to company spokeswoman Amy von Walter. That includes about 735 stores around the country.

But don’t expect to snag any deals online — at least not yet. Toys R Us has said in court filings that it is hoping to find a buyer for its e-commerce operations, which means it is likely to hold off on selling off online inventory right away, according to bankruptcy lawyers.

2. What sort of discounts can I expect?

Prices are likely to be reduced about 30 percent right away, von Walter said, with deeper discounts scheduled for coming weeks. The company expects to finish liquidating its stores by the end of June, according to court documents, although some locations may close sooner. Store furniture and fixtures are also likely to be up for sale.

3. How likely am I to find what I’m looking for?

If you’re searching for something specific, bankruptcy experts say you should hurry in as soon as possible. Toys R Us isn’t restocking its stores anymore, and a number of vendors say they cut ties with the company weeks, if not months, ago. All that to say: Highly coveted items will sell out quickly (if they haven’t already). Also, keep an eye out for Toys R Us exclusives that might require additional parts or accessories. One shopper says she bought a Babies R Us-specific crib, for example, but has since had trouble tracking down the corresponding toddler rail and conversion kit since those items are not carried by competing retailers.

4. What else should I know?

Here are the basics: All sales will be final. While Toys R Us and Babies R Us will continue to accept gift card and e-gift cards for another 30 days, von Walter says they will no longer accept coupons. Babies R Us registry users with “endless earnings” and other rewards must redeem them by mid-April.

Read more:

They opened a registry at Babies R Us. Now, these parents-to-be are in liquidation limbo.

Analysts: Toys R Us might have survived if it did not have to deal with so much debt

Toys R Us to close all of its U.S. stores

Retailers are hiring more people. One reason: Home renovations.