Gift Card Advice

November 21st, 2008 by admin

Everyone loves giving and receiving gift cards. In fact, gift cards are becoming quite popular. You will probably even find some great deals on gift cards right here on this website. But just a word of caution. With troubled economic times come store closings and bankruptcy. While most companies that plan store closings never file for bankruptcy protection, you just never know.

If a store is 'going out of business' you can bet that all gift cards are only worth the plastic they are made of. If a company is in Chapter 11 Bankruptcy, they still might have permission from the courts to sell and honor gift cards, but if they end up going into Chapter 7 (liquidation), they are void.

Return-Policy.info was sent a listing of retail companies that plan some trimming after the Holidays. Many of the stores appearing on the list have not been confirmed, but we have checked around and the list seems to be making its way around the net.

Bottom line is to just be careful and when you get a Gift Card, use it immediately. They still do make great gifts.

The List:

Circuit City - most recent 13 stores (150 total).
Ann Taylor- 117 stores nationwide are to be closed.
Lane Bryant, Fashion Bug ,and Catherine's to close 150 stores nationwide.
Eddie Bauer to close stores 27 stores and more after January.
Cache will close all stores.
Talbots closing down all stores.
J. Jill closing all stores.
GAP closing 85 stores.
Footlocker closing 140 stores more to close after January.
Wickes Furniture closing down.
Levitz closing down remaining stores.
Bombay closing remaining stores.
Zales closing down 82 stores and 105 after January.
Whitehall closing all stores.
Piercing Pagoda closing all stores.
Disney closing 98 stores and will close more after January.
Home Depot closing 15 stores 1 in NJ (New Brunswick).
Macys to close 9 stores after January.
Linens and Things closing all stores.
Movie Galley Closing all stores.
Pacific Sunware closing stores.
Pep Boys Closing 33 stores.
Sprint/ Nextel closing 133 stores.
JC Penney closing a number of stores after January.
Ethan Allen closing down 12 stores.
Wilson Leather closing down all stores.
Sharper Image closing down all stores.
K B Toys closing 356 stores.
Lowes to close down some stores (will become product supplier brand).
Dillard's to close some stores.