Originally Posted By Rebekah I received the following from the Disney Stores today: <email portion> Unfortunately, Disney Store has been erroneously included in a rumor that is circulating the internet about stores that are closing locations. You may have seen the email which warns consumers not to buy gift cards this holiday season. We want to set the record straight that the Disney Store is NOT closing 98 stores and gift cards will still be honored. Here is a word from our President, Jim Fielding: “As you may know, Disney Store closed 88 locations earlier this year to adjust our overall store portfolio, “said Jim Fielding, president, Disney Stores Worldwide. “This occurred during the transition from being a licensed business separate from The Walt Disney Company to becoming part of the Disney family once again. Disney Store has no current plan or announcement to close 98 Stores. This is inaccurate information that has been circulated via the Internet.” Disney Store currently has locations in more than 220 malls across America. We are gearing up for the day after Thanksgiving and stocking our shelves with toys and items for Disney fans across the nation. We are also opening more than 100 of our stores at midnight this year. If you’d like to find out if a store near you is opening at midnight, please go to www.disneystore.com and click on our store locator. <end email> Rebekah.
Originally Posted By Rebekah I received the following from the Disney Stores today: <email portion> Unfortunately, Disney Store has been erroneously included in a rumor that is circulating the internet about stores that are closing locations. You may have seen the email which warns consumers not to buy gift cards this holiday season. We want to set the record straight that the Disney Store is NOT closing 98 stores and gift cards will still be honored. Here is a word from our President, Jim Fielding: “As you may know, Disney Store closed 88 locations earlier this year to adjust our overall store portfolio, “said Jim Fielding, president, Disney Stores Worldwide. “This occurred during the transition from being a licensed business separate from The Walt Disney Company to becoming part of the Disney family once again. Disney Store has no current plan or announcement to close 98 Stores. This is inaccurate information that has been circulated via the Internet.” Disney Store currently has locations in more than 220 malls across America. We are gearing up for the day after Thanksgiving and stocking our shelves with toys and items for Disney fans across the nation. We are also opening more than 100 of our stores at midnight this year. If you’d like to find out if a store near you is opening at midnight, please go to www.disneystore.com and click on our store locator. <end email> Rebekah.
Originally Posted By gottaluvdavillains Thanks for that update... I have a few gift cards from there and was a bit concerned since I couldn't find anything to buy when I was there last weekend...
Originally Posted By DAR Looking at that list the only place I shop on there is Home Depot and none are being closed in my area.
Originally Posted By Sara Tonin I thought that was kind of strange to begin with. Thanks for clearing that up, Rebekah!
Originally Posted By ecdc Ever the skeptic, I find this list to be pretty problematic. In addition to the Disney misinformation, the fact that many of these companies are only listed as closing a portion of stores, most likely means that they'll still accept gift cards online. Without clear information about exactly what each specific store is going through, it's hard to know which are permanently going out of business and which have filed for bankruptcy protection but will still have some presence. That's not to say that every store will be safe - one ought to check it out before they buy a gift card. But I find it hard to believe that every store on this list is gift card poison.
Originally Posted By fkurucz ^^I read an article recently, and some of the stores on that list are on imminent deathwatch, and by that I mean bankruptcy-liquidation, and not reorganization. IIRC they are: Circuit City (filed Chapter 11) Eddie Bauer Talbots & J. Jill Footlocker Linens and Things Sharper Image (already dead I believe) Dillard's And there were some others not on that list. Maybe one could give silver coins? That's assuming you can find any for sale. MOst coin dealers are sold out of American Eagles and other silver coins.
Originally Posted By ecdc Here's two articles from Snopes that address some of this. For example, the article addresses what I noted above, that there's a difference between going out of business and filing for bankruptcy protection. <a href="http://www.snopes.com/politics/business/storeclosings.asp" target="_blank">http://www.snopes.com/politics...ings.asp</a> <a href="http://www.snopes.com/politics/business/bankruptcies.asp" target="_blank">http://www.snopes.com/politics...cies.asp</a>
Originally Posted By SuperDry <<< For example, the article addresses what I noted above, that there's a difference between going out of business and filing for bankruptcy protection. >>> However, what isn't really stated explicitly in the above links or posts is that when a company enters Chapter 11 bankruptcy and remains open, the people holding unredeemed funds on gift cards are unsecured creditors in the bankruptcy. It's possible for the business to remain open during and eventually recover from bankruptcy and still have all of the existing gift cards canceled and become worthless. What typically happens is that the company tells the bankruptcy judge that they believe it's in their best interest to continue to redeem existing gift cards and the judge approves it. Although this effectively puts those unsecured creditors holding gift cards ahead of all the other unsecured creditors, the bankruptcy judge can claim that the overall interests of all the creditors is served by this, because to do otherwise would mean to alienate a group of people that may be among the company's best customers. But there's no guarantee that this will happen.
Originally Posted By gottaluvdavillains Mervyns took mine today... Circut City had a person walking around offering gift cards...
Originally Posted By NikkiLOVESMickey I got an e-mail from Eddie Bauer similar to the one that Rebekah posted from the Disney Store. Be careful about what you read on the internet or in an e-mail. While some of it may be true, a lot of it may be garbage.
Originally Posted By amazedncal2 Thank you Rebekah and NLM Friday I handed my Disney Visa to a guy at the Walking Store and he said "oh a Disney Store card, they are closing all their stores except the one in New York".........huh? I didn't feel like chatting it up with him and let it go even though I knew he was wrong. DD looked at me like "what does that have to do with your Disney Visa?" This reminds me that I need to clarify with her that my Disney Visa is good My mom LOVES Talbots, I need to check that one out.
