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Gift card holders could lose more than $75 million from closings in 2008

posted 11/13/2008 4:42:14 AM |

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WouldntItBeGr8To

Gift cards could be worthless, be careful where you buy them

Gift card holders may be out of luck in retail bankruptcies

Already some big retailers, including Sharper Image and Bombay Co., have filed for bankruptcy protection, leaving gift card holders with millions of dollars of what the Bankruptcy Court considers unsecured debt. Both chains have since closed.

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Gift card holders could lose more than $75 million just from store and restaurant closings in 2008

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Comments:

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luneib	Nov 13 @ 6:23AM
	I know, isn't that awful, so many store closings. Why I am hesitant to buy gift cards this holiday season, I didn't realize Sharper Image and Bombay were closing or closed, wow!

imlost2	Nov 13 @ 9:53AM
	That isn't the first time that happened, I remember it happening before I believe a couple years ago. That's why I don't buy them. I can't remember off hand what chain closed but it was a store perhaps Montgomery Wards or one like that, the store closed and the cards were no good. So it's buyer beware. tc Lost

EternalFlame	Nov 13 @ 10:09AM
	If you really want to buy a gift card, get a VISA gift card instead And if you get a gift card for Christmas this year, I suggest you redeem it ASAP.

jayej	Nov 13 @ 10:38AM
	Money is so tight everywhere I think gift giving will be down, so if you are going to buy a gift make it a special one. Handmake something for friends, make a special card, do them a special favor. I woldn't worry so much about gift cards, everybody is in the same boat. Have a nice holiday dinner party, enjoy each others company. Make a photo album for those that are distant. Retailers are already starting to bambard the market with sales and it is not even Thanksgiving. Let the big retailers take the hit on pre printed gift cards. J

Slohand_47	Nov 13 @ 12:03PM
	From an article back in Nov, 2007..... an estimated 8 BILLION dollars a year is lost by consumers from lost or expired gift cards. No wonder businesses LOVE them. http://www.consumerismcommentary.com/2007/11/12/gift-cards-8-billion-lost-last-year-by-customers/

CHARLIgurl1	Nov 13 @ 12:40PM
	Oh my goodness!.. I better check. I have some. Thanks!

butterfly943	Nov 13 @ 2:52PM
	Well I did have some..but I used them already

WouldntItBeGr8To	Nov 13 @ 6:40PM
	Pretty darn wacko, huh?? I would never have thunk! Seems to me it is just like cash and the perfect gift if you don't know what to give, everyone always seems to return stuff and get what they want. I wish I had the talent to make personal gifts as was mentioned above Happy Holidays to all........Give from the heart, that is what really counts!

classic57	Dec 3 @ 2:16PM
	(Give from the heart, that is what really counts!) right on ! and a lil never hurts either lol

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