NFR: stores closing... but still selling their gift cards!

cheezz

Well-known member
I wanted to give everyone a heads up that if you tend to give gift cards around the holidays; you need to 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 0APlanning). Below is a partial list of stores that you need to be cautious about.

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 stores 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 stor~s

K B Toys closing 356 stores

Loews to close down some stores

Dillard's to close some stores

 
Snopes.com says it pays to be wary. Many of these chains are only...

...closing some of their stores. It may not be as dangerous as this list that has been making the rounds makes it seem.

And who knows? After the first of the new year, some of these guys may be gone, and others could join the list. Retailers make so much of their fiscal nut on holiday sales... sometimes as much as 80% of their yearly take.

Michael

 
Well, we probably have too many stores anyway.

I used to drive by all the strip malls in Illinois and wonder how all the stores stayed in business. There were just so many stores.

 
I'd like to see where you found the info on Cache because I find very conflicting info

Cache is my favorite store. I found info that says they closed 14 stores but still have 295 open. I check their financial and stock info daily and there is NO news of them closing all their stores.

Where did you get this info? I want to see it.

 
A letter I got this AM from Eddie Bauer about this....

To our valued customers:

It has come to our attention that misleading information is circulating via email as part of a hoax intended to discourage consumers from buying gift cards from a number of retailers including Eddie Bauer. We want to set the record straight.

Eddie Bauer has been in business since 1920 and operates 376 retail stores throughout North America. We also have a robust online and catalog division. In our March 2008 annual report, we announced both the opening of new locations as well as the closing of some older locations as part of our normal course of business. The stores referenced were all closed in January 2008. In 2009, we will again open and close a handful of stores as part of our normal business plan.

Eddie Bauer remains committed to providing our customers with outstanding quality, value and service, now and for many years to come. Our gift cards are a great option for the holidays. You can purchase and redeem them at any of our retail stores, through our catalogs or at eddiebauer.com. We look forward to serving you this holiday season.

Neil Fiske
President & CEO
Eddie Bauer

 
Apologies all around!! I am always the first one to go check on snopes, but...

trusted the person sending this to me (will not do so in the future!). So.... the list is partly true and partly not. Here is the final word on it from Snopes:
http://www.snopes.com/politics/business/storeclosings.asp

Go halfway down the page where it begins "Origin" to find the current list with more detail.

 
That said, I still won't be buying a single gift card this season... just too volatile a market!

 
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