Warning: Don't Buy Gift Certificates at these Stores for Christmas

By
Real Estate Agent with California Coast & Country Homes, Inc. BRE 01895773

Stores that are planning to close after Christmas are still selling gift cards through the holidays even though the cards will be worthless January 1st or sooner. There is no law preventing them from doing this. On the contrary, it is referred to as "Bankrupcy  Planning". Below is a partial list of stores that you need to be cautious about, says Cyndi Carver who sent me this email.

So if you have gift certificates to ANY store, use them up now.  And don't get gift certificates from any of the stores below, as your gift recipient probably won't be able to redeem them -- they may be out of business after Christmas!

  • 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 stores  
  • K B Toys closing 356 stores  
  • Lowes to close down some stores  
  • Dillard's to close some stores
  • Mervyn's closing all stores

Oh, and if you buy from a store that's closing, don't buy their "extended warranty".  And be forewarned that you WON'T be able to do exchanges or returns, so buy wisely.

I received this list in an email today, I don't know how accurate the list is.  Does anyone know anything about these stores closing?  Are there others to add to the list?  I'd like to hear your comments.  THANKS!

Join my NEW group for professionals who work from their home office at http://activerain.com/groups/virtualoffice

Regina P. Brown
Allison James Estates & Homes
www.ReginaBrown.AllisonJamesInc.com

Posted by

Regina P. Brown
Broker, Realtor®, e-Pro
California DRE # 00983670
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Re-Blogged 1 time:

Re-Blogged By Re-Blogged At
  1. Roland Woodworth 12/15/2008 11:52 PM
Topic:
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Tags:
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Rainmaker
126,605
Tony and Libby Kelly
Keller Williams Realty Portland Premiere - Lake Oswego, OR
CRS, ABR, ePro, SRES, CLHMS, CDPE

Thank you, thank you!  Important information.

Dec 09, 2008 01:21 PM #1
Rainmaker
212,650
Gene Mock
Associate Broker ~ Premier Team, KW Realty - Leesburg, VA
GRI, CRB, CRS, ABR, CIPS, TRC, SFR, SRES

I am sorry to hear about all these stores closing.  

Dec 09, 2008 01:34 PM #2
Rainmaker
488,987
Karen Rice
WEICHERT, REALTORS® Paupack Group - Hawley, PA
Northeast PA & Lake Wallenpaupack Home Sales

This info from Snopes.com may be helpful on this subject.

Dec 09, 2008 01:41 PM #3
Rainmaker
418,549
Regina P. Brown
California Coast & Country Homes, Inc. - San Luis Obispo, CA
e-Pro Realtor

Tony & Libby, yes this is quite an extensive list, isn't it!

Join my NEW group for professionals who work from their home office at http://activerain.com/groups/virtualoffice

Regina P. Brown
Allison James Estates & Homes
www.ReginaBrown.AllisonJamesInc.com

Dec 09, 2008 01:41 PM #4
Rainmaker
418,549
Regina P. Brown
California Coast & Country Homes, Inc. - San Luis Obispo, CA
e-Pro Realtor

Gene, I think we are seeing the scaling-down of giant mega-stores, which will be good for local businesses.

Join my NEW group for professionals who work from their home office at http://activerain.com/groups/virtualoffice

Regina P. Brown
Allison James Estates & Homes
www.ReginaBrown.AllisonJamesInc.com

Dec 09, 2008 01:43 PM #5
Rainmaker
418,549
Regina P. Brown
California Coast & Country Homes, Inc. - San Luis Obispo, CA
e-Pro Realtor

Karen, thanks for that link to snopes, it appears that my list is (unfortunately) accurate!

Join my NEW group for professionals who work from their home office at http://activerain.com/groups/virtualoffice

Regina P. Brown
Allison James Estates & Homes
www.ReginaBrown.AllisonJamesInc.com

Dec 09, 2008 01:45 PM #6
Rainmaker
418,549
Regina P. Brown
California Coast & Country Homes, Inc. - San Luis Obispo, CA
e-Pro Realtor

Hello all, we just went to Mervyn's for their "store closing" sale thinking everything would be drastically reduced.  Some prices were cut up to 50% but were still overpriced.  The selection was bare and I was disappointed!

Regina P. Brown
Allison James Estates & Homes
www.ReginaBrown.AllisonJamesInc.com

Dec 09, 2008 04:11 PM #7
Rainmaker
418,549
Regina P. Brown
California Coast & Country Homes, Inc. - San Luis Obispo, CA
e-Pro Realtor

I just heard from my friend who went to Linens & Things.  She said the close-out specials are being arranged by a third party who specializes in liquidating big companies.  She said the prices are NOT as low as she expected, and there weren't any great "deals".  FYI.

Regina P. Brown
Allison James Estates & Homes
www.ReginaBrown.AllisonJamesInc.com

 

Dec 09, 2008 08:52 PM #8
Rainmaker
142,435
Cristal Drake
Prudential California Realty - Fullerton, CA
Realtor - Fullerton Real Estate

Just give cash. We can all use it! :o)  In all seriousness, this is scary. 

Dec 10, 2008 12:37 AM #9
Rainmaker
418,549
Regina P. Brown
California Coast & Country Homes, Inc. - San Luis Obispo, CA
e-Pro Realtor

Cristal, I like to take my kids shopping for clothes AFTER Christmas, when everything's on sale and there isn't such a large crowd of people.  The kids get what they need, and we have fun being together for the day.

Regina P. Brown
Allison James Estates & Homes
www.ReginaBrown.AllisonJamesInc.com

Dec 10, 2008 12:42 AM #10
Rainmaker
418,549
Regina P. Brown
California Coast & Country Homes, Inc. - San Luis Obispo, CA
e-Pro Realtor

News Flash: Circuit City still has some good stuff left.  My friend was there yesterday and selected a nice laptop at about 1/2 price! 

Regina P. Brown
Allison James Estates & Homes
www.ReginaBrown.AllisonJamesInc.com

 

Dec 15, 2008 08:38 PM #11
Rainmaker
342,291
Vern Eaton
Askov, MN
Realtor 320-630-6995

I give cold hard CASH!  It gives the reciever a chance for a large array of needs or wants!

Dec 15, 2008 08:42 PM #12
Rainmaker
418,549
Regina P. Brown
California Coast & Country Homes, Inc. - San Luis Obispo, CA
e-Pro Realtor

Vern, I agree that cash is very user-friendly.  And the best part is that you don't have to waste time shopping in stores -- for stuff you can't afford -- and stuff they probably won't ever use!

Regina P. Brown
Allison James Estates & Homes
www.ReginaBrown.AllisonJamesInc.com

Dec 15, 2008 08:46 PM #13
Rainmaker
695,697
Kay Van Kampen
RE/MAX Broker, RE/MAX Solutions - Springfield, MO
Realtor®, Springfield Mo Real Estate

I wonder what part of the country all of these are located?  There's no telling when we will see better times.

Dec 15, 2008 09:07 PM #14
Rainmaker
418,549
Regina P. Brown
California Coast & Country Homes, Inc. - San Luis Obispo, CA
e-Pro Realtor

Kay, I know that Mervyns and Circuit City are here on the west coast, but some others I don't recognize.

Regina P. Brown
Allison James Estates & Homes

Dec 15, 2008 09:22 PM #15
Ambassador
603,896
Roland Woodworth
Keller Williams Realty - Clarksville, TN
Short Sale and Foreclosure Resource- SFR - Clarksv

Regina.. thanks for the list of stores.. this is a very LARGE number of stores.

Dec 15, 2008 11:53 PM #16
Rainmaker
418,549
Regina P. Brown
California Coast & Country Homes, Inc. - San Luis Obispo, CA
e-Pro Realtor

Roland, yes the list is long, but the number of stores is even longer... because each store is a large chain.

Regina P. Brown
Allison James Estates & Homes

Dec 16, 2008 12:17 AM #17
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