Caution With Gift Certificates This Christmas

[Henry]

Seems like one business after the other is laying off or closing down.  Was talking with someone the other day and the idea of giving Gift Certificates for Christmas Gifts.  I mentioned the fact that a number of years ago, my sister had given me a couple of Gift Certificates to a place called Leisure Gardens that was located on The Susie Wilson Road.  I didn't use them right away and when I went down to purchase some stuff with the Gift Cards - The place was gone - They didn't relocate, they just disappeared.  Never did find out even who the owner was.

Restaurants are touch & go as we have had a few of those go out of business - Circuit City - a little iffy - Sure have been getting a lot of ads from J C Penny, don't know if they are in trouble or just stepping up their advertising.

You most likely would be pretty safe with some McDonalds Certificates - Just something to think about when you give Gift Certificates.

[Henry]

I just received a personal e-mail, apparently from one of the guests who is unable to post on the forum - When I posted this was unaware of all that was going on:

"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 Planning).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 storesFootlocker 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"

[CLach]

Hello Henry,
Just to inform anyone that shops within Anne Taylor, my sister is a district manager of Anne Taylor Loft for the entire northeast and they are indeed closing some stores in the US but will remain in business.  According to some info, they are just cutting away the fat with stores they arent producing.