Gift Cards and Store Closings - Heads Up

[AGDLynn]

http://www.snopes.com/politics/busin...reclosings.asp

FYI keep up with stores closing if you buy their gift cards.

[gee_ess]

I got a mass email from Ann Taylor today directly responding to and refuting the rumor that they were closing stores and that gift cards would end up worthless. They did acknowledge that they had announced in early 08 they would be closing some of their underperforming stores but were adamant that was the extent of any store closings.

I love Ann Taylor, so I was glad to see that.

[epchick]

That is why I'm an advocate of getting just a Visa type gift card that could be used in many places--like the mall.

I usued the last of the amount of my Circuit City gift card the DAY they announced they were filing for bankruptcy.

[honeychile]

Originally Posted by epchick

That is why I'm an advocate of getting just a Visa type gift card that could be used in many places--like the mall.

I usued the last of the amount of my Circuit City gift card the DAY they announced they were filing for bankruptcy.

The only thing about those is that they charge so many fees - both to buy and to use.

As for underperforming stores, I would expect a chain to close those down. When Macy's bought out one store chain (brain cramp, I forget which one), it left two or three Macy's owned department stores in some malls. I totally understand those being closed! Which is a big reason I like to support local stores.

[epchick]

Originally Posted by honeychile

The only thing about those is that they charge so many fees - both to buy and to use.

Really? I've bought a few for people, and never noticed any extra fees besides sales tax. I'll have to check into that when I buy someone a mall gift card.

[honeychile]

Originally Posted by epchick

Really? I've bought a few for people, and never noticed any extra fees besides sales tax. I'll have to check into that when I buy someone a mall gift card.

I forget how much I almost paid for one last year, but it was X dollars paid for X dollars on the card. Then, someone who was given one for his company's bonus had to pay X amount to use it. I think it was an American Express one, that or Visa.

Specific store or mall cards that I've used or bought don't have the fees - thank heavens!!

[AnatraAmore]

My niece is in love with the American Express gift cards (she's 13) and they work out well since she can use them anyway. The downside is that they're like $5.95 to purchase and then there are fees if it's not used within a certain amount of time. I don't think there's any fees for usage though.

[DSTRen13]

At the mall here, to get the mall gift card (the kind you can use at any store in the mall, don't know what kind it is beyond that), it costs $5 plus tax beyond the cost of whatever amount you put on the card. Boo that. Besides, the mall chain itself (the company that owns our mall) just filed for bankruptcy ... before buying mall cards, you all might want to check and see if this company owns your local mall: http://www.ggp.com/Default.aspx

[sigmadiva]

Originally Posted by honeychile

When Macy's bought out one store chain (brain cramp, I forget which one), it left two or three Macy's owned department stores in some malls. I totally understand those being closed!

Are you thinking of Foley's? I know here in the Houston area there were several malls that now have two Macy's, like Willowbrook mall and the Galleria.

[PeppyGPhiB]

Macy's bought a number of regional department stores years ago, and then eventually it ditched those names and made them all Macy's. Up here in the Northwest they bought The Bon Marche. But I thought the chains they bought were in markets that didn't already have Macy's...it sounds like that wasn't always the case, though.

[SWTXBelle]

I worked for Macy's back in the 80s - they ended up closing almost all of their Texas locations. Then, they purchased Foley's, and made many of their locations into Macy's.

[sthrnsweetie007]

Originally Posted by DSTRen13

At the mall here, to get the mall gift card (the kind you can use at any store in the mall, don't know what kind it is beyond that), it costs $5 plus tax beyond the cost of whatever amount you put on the card. Boo that. Besides, the mall chain itself (the company that owns our mall) just filed for bankruptcy ... before buying mall cards, you all might want to check and see if this company owns your local mall: http://www.ggp.com/Default.aspx

They own our outdoor mall here and they charge the $5 and tax plus the amount of the giftcard. It's ridiculous. We also have a Dillard's in that mall and it's an upper scale Dillard's but there is talk about closing the Dilliard's in the old mall, since it is in a bad part of town and business is not as good in the old mall as it used to be.

[AGDLynn]

Gee, that's the same list as in the 1st posting, lol.

[33girl]

WTF? J Jill just opened a store here last month.

I'm sure all the other grew up in the 70s kids will agree w/ me when I say it makes me feel VERY old that Piercing Pagoda is closing.

Bombay, Linens & Things & Sharper Image have been closing for a year or 2 it seems like.

[sthrnsweetie007]

J Jill just opened a store here too. why would they open up new stores if they knew they were going to close?