Buyers Beware: Spend Your Dollars Wisely This Holiday Season

Real Estate Agent with Associate Real Estate Broker - Keller Williams NY Realty

As many of us try to prepare for the holiday season during these troubled and uncertain times we have to plan our budgets very carefully and spend our money as wisely as possible.  Therefore, I wanted to warn everyone to proceed with caution if you had plans on purchasing gift cards for your loved ones or clients.  There are several stores planning to close after Christmas who are still selling the cards through the holidays even though the cards will be worthless on January 1. There is no law preventing them
from doing this. On the contrary, it is referred to as 'Bankruptcy Planning). Below is a partial list of stores that you need to be cautious about.

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 mo re 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
Loews to close down some stores
Dillard's to close some stores

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Comments (2)

Brande Bradford
Keller Williams - McDonough, GA

Hi Helynn

I was thinking about purchasing some gift cards for Christmas.  Thank you very much for your information.

Nov 21, 2008 03:02 AM
Julie Staradumsky
Keller Williams Realty - Atlantic Shore - Northfield, NJ

Helynn, Thank you for this great information!  Wish you and your family a Wonderful & Blessed Thanksgiving.

Nov 26, 2008 07:27 PM