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Friday, November 21, 2008

TweetThis! This season be CAREFUL when buying gift cards [UPDATED]

I received a message which partly reads, "Movie Gallery is not planning to close any stores at this time." I confirmed with the MOVIE Gallery website where it is posted:
It has recently come to our attention that there is information circulating the Internet regarding Movie Gallery and Hollywood Video store closures, which would have implications regarding gift card redemption. We would like to inform you that this information is not accurate. At this time there are no plans in place to close any of our Movie Gallery or Hollywood Video retail locations.
We appreciate your loyalty and look forward to serving you in our stores.
Sherif Mityas
Chief Operating Officer and President, Retail Operations
Movie Gallery, Inc
My apology to any inconvenience caused by earlier information.
end of update Nov 21, 2008 at 12:50 PT

I am not sure to what extent this will affect people living outside the USA, but I want to bring to your attention the list of shops/stores that will close soon due to bankruptcy or any other economic excuse thereof, therefore affecting your plan of buying gift cards this season.

Some stores/shops that plan to close post Christmas keep on selling gift cards dated post the holidays and most likely those cards won't be useful after January 1st, 2009 unless otherwise stated. Currently, I am not aware of any law preventing them from doing so. Plan wisely.

Apart from the list below, some of the stores have published on their website the name and locations of their closing stores. You can 'google' for a specific name and get the updates.

Here is a list of some stores to mark out:
  1. Ann Taylor- 117 stores nationwide closing
  2. Bombay closing remaining stores
  3. Cache will close all stores
  4. Circuit City (click to see the list of closing stores in the USA) (filed Chapter 11)
  5. Dillard’s to close some stores
  6. Disney closing 98 stores and will close more after January
  7. Eddie Bauer to close stores 27 stores and more after January
  8. Ethan Allen closing down 12 stores
  9. Footlocker closing 140 stores more to close after January
  10. Home Depot closing 15 stores
  11. Lane Bryant, Fashion Bug, and Catherine’s to close 150 stores nationwide
  12. Linens and Things closing all stores
  13. Lowes to close down some stores
  14. JC Penney closing a number of stores after January
  15. J.Jill closing all stores (owned by Talbots)
  16. K B Toys closing 356 stores
  17. Macys to close 9 stores after January
  18. Movie Galley Closing all stores
  19. Pacific Sunwwear (also owned by Talbots)
  20. Piercing Pagoda closing all stores
  21. Pep Boys Closing 33 stores
  22. Sharper Image closing down all stores
  23. Sprint/Nextel closing 133 stores
  24. Talbots closing down specialty stores
  25. Whitehall closing all stores
  26. Wilson Leather closing down all stores
  27. Wickes Furniture
  28. Zales closing down 82 stores and 105 after January
Announcements over the last couple of months include: Charming Shoppes closing 150 stores and cutting expansion plans by 50%; Starbucks closing 100 stores and slowing expansion plans by 34%; Ann Taylor shuttering 117 stores and slowing store growth; Boston Market evaluating its real estate opportunities; Buffet Holdings sorting out its underperformers; Sprint Nextel closing 125 stores and 4,000 distribution points; Cost Plus World Market closing 18 stores; Liz Claiborne closing 54 Sigrid Olsen stores; New York & Company axing the Jasmine Sola brand and its 32 stores; Ethan Allen closing 12 stores; PacSun closing all of its 173 demo stores; and Talbots exiting its kids and men's lines through closure of 78 stores.

Others include Rite Aid exiting Nevada by closing 28 stores; Macy's closing nine stores; Krispy Kreme expecting many franchisees to close stores; Kirkland's Home likely closing 130 stores; CompUSA's remaining 103 stores being disposed of; Rent-A-Center closing 280 stores; Sofa Express closing 44 stores in bankruptcy; 84 Lumber closing 12 stores; Home Depot closings some call centers; Levitz Furniture disposing of 76 stores in bankruptcy; Pep Boys closing 31 stores; Lifetime Brands closing 30 stores; Big A Drugs liquidating its 21 stores.

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