Gift Cards: Use 'Em If You Got 'Em

I received some interesting information today about retail stores and gift cards and given that gift cards have become extremely popular during the holiday season, I thought I would pass it along to you. It has been reported that there will be a number of potential store closings during the upcoming months and that purchasing gift cards from any of these retailers may NOT be your safest bet. The companies/stores I was told were in jeopardy include

• Circuit City ... most recent (not sure how many)
• Ann Taylor - 117 stores nationwide are to be shuttered
• Lane Bryant/Fashion Bug/Catherine's - to close 150 stores nationwide
• Eddie Bauer - 27 stores; more after January 2009
• Cache - all stores
• Talbots - all stores
• J. Jill - all stores
• GAP - 85 stores
• Footlocker - closing 140 stores; more after January 2009
• Wickes Furniture - closing
• Levitz - closing remaining stores
• Bombay - closing remaining stores
• Zales - closing 82 stores; and 105 after January 2009
• Whitehall - closing all stores
• Piercing Pagoda - closing all stores
• Disney - closing 98 stores; more after January 2009.
• Home Depot - closing 15 stores; (1 in New Brunswick, NJ)
• Macys - will close 9 stores after January 2009
• Linens and Things - closing all stores
• Movie Galley - closing all stores
• Pacific Sunware - closing all stores
• Pep Boys - closing 33 stores
• Sprint/ Nextel - closing 133 stores
• JC Penney - closing a number of stores after January 2009
• Ethan Allen - closing 12 stores.
• Wilson Leather - closing all stores
• Sharper Image - closing all stores
• K B Toys - closing 356 stores
• Loews - will close some stores
• Dillard's - will close some stores

If you currently have gift cards to any of these stores, you might want to use them before it's too late. If you were planning on buying gift cards to any of these stores this holiday season, you might want to rethink your purchase or tell the recipients of the gift cards to make sure and use them quickly.

On a lighter note, you might find some great deals at these stores if they really are closing and have to liquidate their merchandise and stock. As sad as it is to see these potential store closings, sometimes society has to break itself down in order to build itself up even stronger. Again, our economy always finds a way to rebound, but right now, it might be better to make informed choices with your money instead of taking chances.