Be careful buying gift cards for people this Christmas
 

got one of those viral emails from a friend - list of retailers with announced store closings


Circuit City stores... most recent (? how many)

Ann Taylor - 117 stores nationwide are to be shuttered

Lane Bryant,, Fashion Bug ,and Catherine's to close 150 stores nationwide

Eddie Bauer to close 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 stires after January.

Whitehall closing all stores

Piercing Pagoda closing all stores

Disney closing 98 stores and will close more stores 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

Dillard's to close some stores.

If you do buy gift cards, you do have up to (90 days i believe) to chargeback the purchase if you're using a credit card. Assuming the store in question won't honour the purchase.
WG

Right now I would stick with restaurant gift cards. They might need them.

Crazy list.

I wouldn't shop at any store that's closing.

Last year I bought a computer and went back 3 weeks later and the store was GONE.
Made things very difficult for me when I had a problem with the computer.

more like mickey-d gift cards most other food places are closing

I see food stamps being popular this xmas.
WG

whats the source of that?

Store closings of a chain usually won't affect their gift cards, but can make redeeming them much more difficult for many people - that alone can be a dealbreaker for the purchaser / very upsetting to the recipient.

Only a few of the chains listed in the email are in / going to file bankruptcy - in those instances, the gift cards could become worth less or even worthless.

Personally, I've long avoided giving gift cards - and instead, when I don't know what to give someone, I give them cash - they can spend it where they want and never have to worry about it expiring, etc.

Ron

amazon.com gift cards maybe? :)

If you want to give a gift card then consider a prepaid Visa/Mastercard - it doesn't limit them to a specific store. Just be aware that as with most gift cards and vouchers the available balance reduces to $0 once they expire. (Or paraphrasing one provider, "the cancellation fee charged is equal to the current balance")

thanks for the thread.

The visa card is good alternative, plus you knever know they may end up buying an adult membership with it

Some of those stores will keep their online stores running as they cost a LOT less.

But that does not mean it wont be a bitch to redeem the card.