Closing Retailers and Gift Cards

From an email I received this week…

Here is some information regarding retailers and future store closings. This coming holiday season please check with the retailers before you purchase your holiday gift cards, you need to be sure the cards will be
honored afterwards.

Stores that are planning to close after Christmas are still selling the cards through the holidays even though the cards will may be worthless in January. There is no law preventing them from doing this. This 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
J. Jill closing all stores (owned by Talbots)
Pacific Sunwear (also owned by Talbots)
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
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
Dillard’s to close some stores

UPDATE: According to KSL.Com, the E-mail warning of gift card problems may not be very accurate. I think it is more accurate than not, as I’ve read news articles over the past several weeks that confirm many of the closings described in the email. Even if this list isn’t 100% accurate, the fact remains that there will be many store closings after this holiday shopping season. It would be wise to take that fact into account if you’re considering buying gift cards this year.

UPDATE 2: According to snopes.com, this email contains a mixture of accurate, inaccurate and outdated information. The U.S. economy is currently in unstable, uncharted waters. I would still definitely recommend doing a bit of research on any retailer before purchasing gift cards from that retailer. Better safe than sorry, as the saying goes.

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3 Comments on “Closing Retailers and Gift Cards”

  1. helen robinson Says:

    as a manager of a very profitable fashion bug in kingston,ny,i feel you are doing a great disservice to my employees and customers. over a YEAR ago my company announced it would be closing approx.150 stores.fashion bug alone has over 900 stores,let alone catherines and lane bryant.how do you think it feels when every other customer comes in in tears thinking their favorite store is closing ?do you have any idea how you damage us further by discouraging custoimers from buying gift cards ? do you know that these gift cards can be used on our website even if a store closes near you? have
    you done any real reasearch on this topic or are you jusr gathering misinformation from other sites.please be more responsible.

  2. MJB Says:

    BEFORE POSTING THIS INFORMATION, CHECK YOUR SOURCE!!! MOST OF THIS INFORMATION IS AS MUCH AS 5 YEARS OLD OR NOT EVEN TRUE!!!

  3. 13oclock Says:

    @helen robinson, @ MJB
    Please see the updates to this post. The email circulating the web is at least partially true. Shoppers should be aware that some stores may be closing soon and make their purchasing decisions based on the most current information they can find.


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