Law-Forums.org

[montrel68]

Warning......


Stores that are planning to close after Christmas may still be selling
gift cards through the holidays even though the cards may be worthless
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 more 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

[adalwine]

Some of these have already happened in 2008:

Fashion Bug has already begun to close.
Talbot's has closed most of the non-core product line stores; this will continue. It now looks like many Talbot's stores will close as well.
Movie Gallery is closed.
Wilson's only has a a handful of stores left.
Piercing Pagoda is closed
Home Depot has closed 16 stores in 2008.
Linen's and Things is in the process.

Be careful about purchases if you visit one of these and are looking for bargains.In most cases the liquidation company that takes over does an initial ramp up of prices with an initial "slash" in % off. You are actually paying more than if you shopped there before the closing. Immoral in my book but perfectly legal.


Keep in mind though, that many of these stores will continue to operate on-line. The store closing is a method to preserve cash and cut overhead.

[wynn]

Wow! I had no idea! I usually don't buy gift cards because they are impersonal, but there were a few stores on here I was considerring getting some for. I will be sure to pass on the message, thank you!

[dennie18]

That will be very useful information for someone! Thanks for sharing :)

[lintun]

WOW I didn't know that thanks 4 sharing

[tonibraxton]

Good to know! Thanks for the info! I heard Toys R Us is also closing a bunch of stores, but not sure how many. I think they're waiting to see how their Christmas sales go. I applied for a Christmas job there and the manager said the number of hours would depend on how well sales go.

[treasigh]

Thank you for this! Very helpful

[vruyk]

Thanks for sharing! This is a bad situation for jobs.