Gift cards were the hottest present for a while, but the recession has a lot of people wary about buying them this year. Surprising to many, Circuit City is still selling gift cards, despite having filed for Chapter 11 bankruptcy. Circuit City is doing every they can to make sure their business survives, and want to ensure people know their gift cards are still valid, but the media has frightened many people away.
"We’re aware that there’s been a lot of misinformation out on the Internet about gift cards since we filed for Chapter 11," a Circuit City spokesperson told FirstCoast News. "On our first day before the court, we sought and received authority to continue our gift card program. We are continuing to sell and redeem Circuit City gift cards in our stores and at http://www.circuitcity.com. No changes have been made in our gift card program."
Other companies going out of business or closing hundreds of stores yet continuing to sell gift cards this holiday:
Closing hundreds of locations:
Lane Bryant, Fashion Bug, Catherine’s
K B Toys
Closing all locations:
Linens and Things
If you belong to the two thirds of consumers expected to buy gift cards this holiday, ensure your card will still be valid into the new year… otherwise, get something else, save your shackles or opt for DIY gifts!
Bankruptcy Gift Certificates
More Stats +/-
Black Friday Ad Hoaxes
42 Cutting Edge Consumer Electronics
16 Credit Crunch Casualties and Benefactors + Circuit City Store Shutdowns
Credit Crunch T-shirts
Low-Cost Women's Health Initiatives