gift cards and failing companies

Here is a heads up that if you tend to give gift cards around the Holidays; you need to be careful that the cards will be honored after the holidays. Stores that are planning to close after Christmas are still selling the cards through the holidays even though the cards will be worthless January 1. There is no law preventing them from doing this. On the contrary, it is referred to as ‘Bankruptcy Planning. Below is a partial list of stores that you need to be cautious about.

Circuit City (filed Chapter 11)

Ann Taylor- 117 stores nationwide closing

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

Talbot’s closing down specialty stores

J. Jill closing all stores (owned by Talbot’s) Pacific Sunwear (also owned by Talbot’s)

GAP closing 85 stores

Footlocker closing 140 stores more to close after January

Wicks 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

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

Lowe’s to close down some stores

Dillard’s to close some stores

~ by bothwellsblog on November 29, 2008.