As more retailers file for bankruptcy or go out of business, more than $75 million in gift cards are at risk of being junk plastic this year. Even when a business reorganizes under Chapter 11 bankruptcy, gift cards are treated as loans to the company. After declaring bankruptcy, some retailers won't accept their own gift cards anymore. If you or your child received a gift card this past holiday season, make sure the issuer is still in business and use that card sooner rather than later.
Source: Anne D'Innocenzio, Associated Press, Chicago Tribune, 03/04/2008
Source: Anne D'Innocenzio, Associated Press, Chicago Tribune, 03/04/2008
