Attention Short Pump Shoppers: The Gift Card Black...
Well, in the past decade the trend for buying gift cards as christmas presents has been a steep one to the upside. It has just become more common and accepted to give gift cards and, let’ be honest – what better way to make someone’s day. They get to choose exactly what they want.
Buying gift cards has never been easier. You can purchase them easily online and now, there are gift card collection kiosks in a lot of major stores such as drug stores and grocery stores. I usually buy cards from over 10 different stores at Ukrops of all places!
Well, given our bad ecomony and the meltdown happening with the large retailers in America, buying a gift card is risky this season. ThIs is because many retailers will be going out of business after the Christmas shopping season. Now, you will be very surprised to know that even if bankruptcy is in the plans for many of these businesses, they are still selling gift cards.
What you need to know is that once a retailer goes into bankruptcy, your gift cards may be worthless. While it is technically an obligation owed by the store to the gift card holder, it is an unsecured obligation which means that it is the lower priority in bankruptcy. In other words- it is likely worthless!
I found this list on the Internet that predicts some of the stores that could have issues with gift cards. Now, I do not follow the corporate business wolrd close enough to know how accurate this list is, but I thought it was worth including here to help any fellow short pump shoppers as they make their gift buying decisions.


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