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Are you purchasing gift cards to give as christmas gift?

I wanted to give everyone a heads up that if you tend to give gift cards around the holidays, then 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 gift 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

Talbots - closing down specialty stores


Asked by ny.chica at 9:46 AM on Nov. 26, 2008 in Politics & Current Events

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Answers (15)
  • Here is my plug: buy people mastercard/amex/visa branded gift cards - then they can use it for whatever they want.
    (I used to work for one of those three).

    Answer by Fiveofakind2 at 11:49 AM on Nov. 26, 2008

  • more
    J. Jill - closing all stores (owned by Talbot's)

    Pacific Sun Wear - (also owned by Talbot's)

    GAP - closing 85 stores

    Footlocker - closing 140 stores mo re 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 )


    Answer by ny.chica at 9:47 AM on Nov. 26, 2008

  • and last but not least
    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

    Loews - to close down some stores

    Dillard's - to close some stores


    Answer by ny.chica at 9:48 AM on Nov. 26, 2008

  • Thank you for the information. I greatly appreciate it. There should be information available when you buy the cards that is not in small print. I did get a gift card for someone but it is at Wal-Mart. Sad to think of all those people who are loosing their jobs which in turn will continue to make our economy decline.

    Answer by frogdawg at 9:57 AM on Nov. 26, 2008

  • My kids get Target gift cards EVERY christmas. I think they are a pretty safe bet. But I think I will pass this info to my dad (the purchaser lol) and maybe he can get them the visa ones! Thanks!

    Answer by momof030404 at 10:19 AM on Nov. 26, 2008

  • Wow...that is definitely something to think about. I plan on getting food/coffee gift certificates for my younger brothers who are in college right now, it looks like those are safe for the most part, but maybe I'd be better off to just give cash.

    Answer by kabbot01 at 10:38 AM on Nov. 26, 2008

  • I usally get the visa gift card...I hate limting ppl where they can shop at

    Answer by moviestartaal at 10:56 AM on Nov. 26, 2008

  • Ooohhh...the visa gift card is a great idea! I completely forgot about those!

    Answer by kabbot01 at 11:01 AM on Nov. 26, 2008

  • This was on the today show and it is something that isn't completely true. I am giving gift cards to my family members, mostly itunes, ulta, and resturant cards. These companies still will honor them and you can use them online, the trick is to NOT save them but to use them immediately.

    Answer by usmc0351wife at 11:14 AM on Nov. 26, 2008

  • I got an e-mail listing all these store closings too. I posted it in one of my groups to warn everyone, and one of the group members let me know that the e-mail was busted by I searched and found that it had been reported as a fake. I think some of it is probably true (I know Circuit City filed for bankruptcy) and you do need to be careful with gift cards, but it may not all be true.

    Answer by TweenAndTwinMom at 11:16 AM on Nov. 26, 2008