Use Your Linens N Things, Mervyns, or Shoe Pavillion Gift Card NOW!
By Consumers Union on Thursday, October 23rd, 2008
If you still have a gift card from Linens N Things, Mervyns or Shoe Pavillion, use them NOW as these retailers are either closing their doors very soon, or may not be accepting gift cards any longer at a later date. If you don’t use the gift card with these stores, you may be left with a worthless plastic card and the unsavory option of filing as an unsecured creditor to the bankruptcy proceedings to obtain any value on the card.
All three large retailers expect to continue their liquidation sales for the next couple of months, and will shut its doors after the holidays. Still, use up your gift cards now because circumstances may change.
• Linens N Things
It appears that the liquidators for Linens N Things will continue to accept LNT gift cards.
The housewares retailer will be shutting down its 371 remaining stores in 48 states.
Money mom was told to use any Mervyns gift cards by October 31st while they are still Mervyns. As of November 1st, the liquidators will take over and it is uncertain if they will continue to accept Mervyns’ gift cards.
The department store will shut its remaining 149 stores in 7 states on the West Coast.
• Shoe Pavillion
Use your gift cards now, as they are accepting them.
The shoe retailer will be shutting down its remaining 64 stores in California, New Mexico, Washington and Oregon.
Your favorite store may not be immune to bankruptcy as well, as 2008 has seen the largest number of retailer bankruptcies since 2001, according to the Chicago Tribune. If you planned on giving gift cards as wedding gifts, birthday gifts or the holidays, you should probably think twice and consider giving cash.
Consumers Union petitioned the FTC to make sure that consumers will be able to continue to redeem the value on their gift cards even when a retailer files for bankruptcy.
With the growing number of retailer bankruptcies, the FTC needs to act sooner rather than later to protect consumers from losing millions on gift cards.