Gift Cards & Bankruptcies

If you have gift cards lying around, you should use them ASAP. With the faltering economy, many retailers are filing for bankruptcy so certain gift cards may soon be useless, if they aren’t already. Here’s a very short and incomplete list of companies who have filed for Chapter 11 bankruptcy protection recently. This means that many are still in business but will close underperforming stores. Consider this a warning that they may shutter their doors completely at some point.

Express
Bombay Company
Linens N’ Things
Sharper Image (NOTE: I think they are already closed, thus gift cards are useless. I had heard the CEO and some other partners were trying to buy the company.)
Shoe Pavillion
Steve & Barry’s

Mervyn’s may be next to file for bankruptcy.
http://www.bizjournals.com/eastbay/stories...21/daily21.html

Other retailers are hurting as well, particularly ones in malls such as Ann Taylor, Pac Sun, The Gap and Starbucks.

This post has been edited by mobyfan on Jul 21 2008, 08:04 PM

Last I heard about Sharper Image, they only closed a sizable chunk of their stores. The gift cards are still good at other outlets and I think they might be good online too.

Do they still have a Valley Fair location? I've had a gift card from there for like four years now... never found any overpriced crap there that I really wanted.

Bennigan's filed for bankruptcy. We were down the street and wanted to grab a bite but the place was pitch black (it was late at night).

Mervyn's also filed for bankruptcy protection and is closing a few Bay Area stores but others will remain open.

Mrs. Field's also filed for bankruptcy. They also own TCBY yogurt stores. No word on whether the shops are closed or not.