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

By
Real Estate Broker 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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  1. Roland Woodworth 12/15/2008 11:52 PM
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Topic:
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Tags:
stores closing
going out of business
circuit city
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Rainmaker
379,775
Regina P. Brown
e-Pro Realtor
California Coast & Country Homes, Inc.

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

December 15, 2008 08:46 PM
Rainmaker
671,447
Kay Van Kampen
Realtor®, Springfield Mo Real Estate
RE/MAX Broker, RE/MAX Solutions

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

December 15, 2008 09:07 PM
Rainmaker
379,775
Regina P. Brown
e-Pro Realtor
California Coast & Country Homes, Inc.

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

December 15, 2008 09:22 PM
Ambassador
593,006
Roland Woodworth
Short Sale and Foreclosure Resource- SFR - Clarksv
Keller Williams Realty

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

December 15, 2008 11:53 PM
Rainmaker
379,775
Regina P. Brown
e-Pro Realtor
California Coast & Country Homes, Inc.

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

December 16, 2008 12:17 AM
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Regina P. Brown

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Top California Broker and Realtor Regina P. Brown writes articles and blogs about local real estate trends, houses for sale, and tips for home buyers.