Be Wary Of Gift Cards From Retailers In Or Nearing Bankruptcy
For a generation, gift cards have been the holiday present of last resort — the thing to buy when nothing comes to mind. This year, however, givers have more to worry about than whether the gift card will get shoved in the back of a drawer. The bigger issue is whether a gift card will become worthless if it involves a retailer that filed for bankruptcy protection. The retail industry saw a rash of bankruptcy filings as it lost sales to online retailers this past year — and that could only get worse in 2018. Some major retailers are hanging by a thread in trying to stave off bankruptcy filings. Some, like Toys R Us, have already filed and are trying to reorganize. And in the worst cases in the past year, some chains have moved directly to liquidate their businesses and close the doors. Read more at CNBC.
