Holiday Gift Card Warning

This holiday season I’ve decided that I am going to try and entirely avoid gift cards. I want to give people gifts which are a little more thought out. While I acknowledge that gift cards allow the recipient to have their own choices in what specific gift they want, I don’t really feel that gift cards fulfill the true intention of what a gift should be. Sure there’s some cases where giving a gift card is really the only way to ensure that the person gets what they truly need, but in that case I’d rather just let them get that item on their own. Many gift cards expire after a certain amount of time passing with out use. Some states have laws which prevent this practice, but even in those cases there is a service fee charged for the time passed where the card is not used. On top of everything else, it’s important to take the recent change in our economy into consideration and look at a companies future. No one wants a gift card to a store who has gone out of business. Recently I had an email passed onto me from a friend which really opened my eyes to this.

Here’s a heads up in case you intend to give gift cards around the holidays. 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). So take a look at this partial list of stores that you should be cautious about.

Circuit City (filed

Chapter 11)


Ann Taylor

117 stores nationwide closing 


Lane Bryant
,
Fashion Bug, & 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 


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 Store
 closing
98 stores and will close more after January. 


Home Depot 
closing
15 stores


Macy’s
 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

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