Monday, November 24, 2008

Look That Gift Horse In The Mouth

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I got an e-mail over the weekend alerting me about buying gift cards from certain stores. It seems that said stores are planning to either close or file for Bankruptcy after the holidays, yet continue selling gift cards -- which will be worthless after January 1. Apparently, there is no law preventing them from doing this. On the contrary, it is referred to as “Bankruptcy Planning”.

Anyway, here's a list of the stores mentioned in the e-mail. If you're planning on giving gift cards this year, it might be wise to check the list. I myself have already bought a card (and in a sizeable amount, I might add) from one of the stores shown on the list as closing, so I'm now planning to mail it early so the recipient will have ample time in which to use it before the store closes. Personally, I find it sleazy and unethical in the extreme that any store would sell gift cards that they know will be unredeemable in a very short period of time. If there is no law, there should be.

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 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


G-Man said...

Buyer Beware!!!
Thanks for the Holiday Shopping Tips Sherry, very civic minded of you!!
Now psyche yourself up for 3 grueling days of work...:-)

Serena said...

2-1/2, Galen. How hot is that?

Mona said...

Is this about online buying?

I never purchase anything online

Skunkfeathers said...

I occasion only one on the list, and have substitutes for it ;)

Happy Turkey Day, doll, and don't be duped by ToFurkey ;)

Serena said...

Gift cards are gift certificates, Mona. You buy one in a given amount, give it to someone as a gift, and they then take it to the store (or online if the store offers online shopping) and use it to buy the merchandise of their choice.:)

Never fear, Skunk; no ToFurkey for me. Hope you have a great Turkey Day, too.:)

NYD said...

Caveat emptor!
I have a hard time believing that things are going to get better. "Tighten your belt" is going to take on a new and deeper meaning in the upcoming year. Maybe it's time for another John Steinbeck

puerileuwaite said...

No worries here. I'm all stocked up on Montgomery Wards cards, which I see is not on the list.

Serena said...

Uh-oh, Pugsley.:)

Serena said...

I fear you're right, NYD. It's hard right now to see any light at the end of the tunnel. Gonna be lots of Joads on the move.:)