Gift Cards & Store Closings...FYI

Discussion in 'Random Ramblings' started by HennysMom, Nov 18, 2008.

  1. HennysMom

    HennysMom Keeper of the Tiara

    A friend just sent me this and I checked it out thru Snopes - most of it is true (as of 13 Nov 08). go to snopes.com and look up the full reading of it all. Some of these are partial closings specific to certain regions/states - others are full closings. So its worth finding out the locations, especially if you buy online or in a grocery store (you know those gift card centers?).



    If you have gift cards for any of these stores, now would be the time to cash them in before they close stores in an effort to cut costs.

    SUGGESTION: DO NOT BUY STORE GIFT CARDS FOR THE CHRISTMAS HOLIDAYS since no one knows which stores will close January 1, 2009 CLOSINGS AND LAYOFFS

    Ann Taylor closing 117 stores nationwide A company spokeswoman said the company hasn't revealed which stores will be shuttered. It will let the stores that will close this fiscal year know over the next month.

    Eddie Bauer to close more stores. Eddie Bauer has already closed 27 shops in the first quarter and plans to close up to two more outlet stores by the end of the year.

    Cache closing stores. Women's retailer Cache announced that it is closing 20 to 23 stores this year.

    Lane Bryant, Fashion Bug, Catherines closing 150 stores nationwide The owner of retailers Lane Bryant , Fashion Bug , Catherines Plus Sizes will close about 150 under performing stores this year. The company hasn't provided a list of specific store closures and can't say when it will offer that info, spokeswoman Brooke Perry said today.

    Talbots, J. Jill closing stores. About a month ago, Talbots announced that it will be shuttering all 78 of its kids and men's stores. Now the company says it will close another 22 under performing stores. The 22 stores will be a mix of Talbots women's and J. Jill, another chain it owns. The closures will occur this fiscal year, according to a company press release.

    Gap Inc. closing 85 stores. In addition to its namesake chain, Gap also owns Old Navy and Banana Republic. The company said the closures - all planned for fiscal 2008 - will be weighted toward the Gap brand.

    Foot Locker to close 140 stores. In the company press release and during its conference call with analysts today, it did not specify where the future store closures - all planned in fiscal 2008 - will be. The company could not be immediately reached for comment.

    Wickes is going out of business. Wickes Furniture is going out of business and closing all of its stores, Wickes, a 37-year-old retailer that targets middle-income customers, filed for bankruptcy protection last month.

    Levitz / BOMBAY - closed already. The furniture retailer is going out of business. Levitz first announced it was going out of business and closing all 76 of its stores in December. The retailer dates back to 1910 when Richard Levitz opened his first furniture store in Lebanon , PA. In the 1960s, the warehouse/ showroom concept brought Levitz to the forefront of the furniture industry. The local Levitz closures will follow the shutdown of Bombay .

    Zales & Piercing Pagoda closing stores. The owner of Zales and Piercing Pagoda previously said it plans to close 82 stores by July 31. Today, it announced that it is closing another 23 under performing stores. The company said it's not providing a list of specific store closures. Of the 105 locations planned for closure, 50 are kiosks and 55 are stores.

    Disney Store owner has the right to close 98 stores The Walt Disney Company announced it acquired about 220 Disney Stores from subsidiaries of The Children's Place Retail Stores. The exact number of stores acquired will depend on negotiations with landlords. Those subsidiaries of Children's Place filed for bankruptcy protection in late March. Walt Disney in the news release said it has also obtained the right to close about 98 Disney Stores in the U.S. The press release didn't list those stores.

    Home Depot store closings (E. Brunswick, Rt 18 just put up their closing sign) ATLANTA - Nearly 7+ months after its chief executive said there were no plans to cut the number of its core retail stores, The Home Depot Inc. announced Thursday that it is shuttering 15 of them amid a slumping U.S. economy and housing market. The move will affect 1,300 employees. It is the first time the world's largest home improvement store chain has ever closed a flagship store for performance reasons. Its shares rose almost 5 percent. The Atlanta-based company said the under performing U.S. stores being closed represent less than 1 percent of its existing stores. They will be shuttered within the next two months.

    CompUSA (CLOSED) clarifies details on store closings. Any extended warranties purchased for products through CompUSA will be honored by a third-party provider, Assurant Solutions. Gift cards, rain checks, and rebates purchased prior to December 12 can be redeemed at any time during the final sale. For those who have a gadget currently in for service with CompUSA, the repair will be completed and the gadget will be returned to owners.

    Macy's - 9 stores

    Movie Gallery - 160 stores as part of reorganization plan to exit bankruptcy. The video rental company plans to close 400 of 3,500 Movie Gallery and Hollywood Video stores in addition to the 520 locations the video rental chain closed last fall.

    Pacific Sunwear - 153 Demo stores

    Pep Boys - 33 stores

    Sprint Nextel - 125 retail locations New Sprint Nextel CEO Dan Hesse appears to have inherited a company bleeding subscribers by the thousands, and will now officially be dropping the ax on 4,000 employees and 125 retail locations. Amid the loss of 639,000 postpaid customers in the fourth quarter, Sprint will be cutting a total of 6.7% of its work force (following the 5,000 layoffs last year) and 8% of company-owned brick-and-mortar stores, while remaining mute on other
    rumors that it will consolidate its headquarters in Kansas Sprint Nextel shares are down $2.89, or nearly 25%, at the time of this writing.

    J. C. Penney, Lowe's and Office Depot are scaling back

    Ethan Allen Interiors: The company announced plans to close 12 of 300+

    Wilsons the Leather Experts - 158 stores

    Sharper Image: The company recently filed for bankruptcy protection and announced that 90 of its 184 stores are closing. The retailer will still operate 94 stores to pay off debts, but 90 of these stores have performed poorly and also may close.

    KB Toys posted a list of 356 stores that it is closing around the United States as part of its bankruptcy reorganization. To see the list of store closings, go to the KB Toys Information web site, and click on Press Information

    Dillard's to Close More Stores. Dillard's Inc. said it will continue to focus on closing under performing stores, reducing expenses and improving its merchandise in 2008. At the company's annual shareholder meeting, CEO William Dillard II said the company will close another six under reforming stores this year.
     
  2. SundownWaterfowl

    SundownWaterfowl Overrun With Chickens

    I also heard that today.
     
  3. Leah-yes I know I'm crazy

    Leah-yes I know I'm crazy Chillin' With My Peeps

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    Anyone else stuck holding gift certificate for Quality Farm and Fleet when they went belly up right after Christmas?
     
  4. BFeathered

    BFeathered Chillin' With My Peeps

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    Aug 29, 2008
    North Texas
    Yikes, thanks for the heads-up. I didn't know the list was so extensive! Guess I'll have to get in touch with MIL so she doesn't get gift cards from any of those!
     
  5. Chicken Salad

    Chicken Salad Chillin' With My Peeps

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    Frederick, Maryland
    In addition to being a chicken addict, I'm a massage therapist*. With the gift card thing...there are laws in each state that apply to gift certificates and gift cards.

    If I sold some gift certificates and then went out of business I would be required by Maryland to post that amount of money with the state for redemption by the certificate holders.

    Different states do this different ways...not that I'm saying don't not buy gift cards. I personally don't use them when I can help it because I consider them to be a form of coersive marketing. Here's a good link: http://www.consumersunion.org/pub/core_financial_services/003889.html

    OH, and since we're on the subject...check state law if you get a gift certificate that expires. Most states don't allow them to expire by law. But, say, if you get one for a "full body massage" and it's 2 years before you go get it - the issuer doesn't have to give you a $90 full body massage that was worth $75 two years prior. But they do have to give you the $75 dollar-value worth against the service. Places will put that they gc expires simply because they don't want to carry the account payable expense on their books (they have received a money credit and owe service). It's wise to check your state law on those.

    *(I don't guess I should go by the name The Chicken Rubber, huh?) LOL!!!!
     
  6. debilorrah

    debilorrah The Great Guru of Yap Premium Member

    If gift cards are your choice for gifts this year, get the American Express gift cards. They can be spent anywhre, and so far, they aren't going out of business.
     
  7. sdshoars

    sdshoars Chillin' With My Peeps

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    i would just cry if they closed my home depot! its 80 miles away, and the next closest one is 180 miles away! [​IMG]
     
  8. debilorrah

    debilorrah The Great Guru of Yap Premium Member

    Quote:Where in Nevada are you??? Pahrump??
     
  9. smom1976

    smom1976 too many projects too little time!

    May 2, 2008
    Pensacola, FL
    Quote:I had a gift certificate for getting my nails done.. expired 2 days prior they wouldnt honor it.. I bet if i would have pushed it they would have done a horrible job.
     
  10. Chicken Salad

    Chicken Salad Chillin' With My Peeps

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    Frederick, Maryland
    Quote:I can certainly understand that...but I just need to weigh in here on a couple of things.

    People often complain that the staff in a big-box "home improvement" place doesn't know anything about the products. There's a really good reason for that. Lowes and HD are merely showrooms basically for stuff; the manufacturers come in there and site the displays and everything. Yeah, some folks have been around some and may know a few things about the products but you're rarely gonna find in one of those settings a guy who's been doing tools and stuff his whole life and knows why you need this screw instead of another one or who will look in the basement to find that whatsamacallit you happen to need.

    Give me that store ANYday over a Lowes or HD. I inevitably want stuff in the "wrong" season - and normally I wouldn't have gone to Lowes, but the dh doesn't know any better...but I was really BLOWN when Lowes didn't have wood stove piping available in August or September. I was told it's not TIME for that yet. Well, I really preferred NOT to wait until the cold was upon us to get my wood stove up and running, thanks. I went to my local "hardware" where a guy told me exactly what I needed and, no, they didn't have that in but he'd order it for me. People are so used to being abused and treated like so much dry-lot cattle in stores that they think good customer service is when you don't have to wait in line while they call back for a price. NO _ NO _ NO!

    The other thing is that big box ANYstore is taking money from the local economy and sending it off to their corporation heaven-knows-where. It's not being recirculated in your community economy. Study after study shows that these places bleed a community DRY by taking, taking, taking.

    Somebody - get this soapbox out from under me, please.
     

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