
Yikes! You may want to avoid the gift cards this holiday season. The usually convenient choice for a quick and nifty solution to holiday shopping may not pan out this year. A whopping 6000 stores closed in 2008 as reported in Retail Info News (RIS) back on April 29, 2008. There is a more recent update at Investment-blog.net as follows :
Stores that informed the Security Exchange of closing plans between October 2008 and January 2009….
Circuit City stores… most recent (how many?)
Ann Taylor - 117 stores nationwide are to be shuttered
Lane Bryant,, Fashion Bug, and Catherine’s to close 150 store nationwide
Eddie Bauer to close stores 27 stores and more after January
Cache will close all stores
Talbots closing down all stores
J. Jill closing all stores
GAP closing 85 stores
Footlocker closing 140 stores more to close after January
Wickes Furniture closing down
Levitz closing down remaining stores
Bombay closing remaining stores
Zales closing down 82 stores and 105 after January.
Whitehall closing all stores
Piercing Pagoda closing all stores
Disney closing 98 stores and more after January.
Home Depot closing 15 stores 1 in NJ ( New Brunswick )
Macys to close 9 stores after January
Linens and Things closing all stores
Movie Gallery Closing all stores
Pacific Sunware closing stores
Pep Boys Closing 33 stores
Sprint/ Nextel closing 133 stores
JC Penney closing a number of stores after January
Ethan Allen closing down 12 stores.
Wilson Leather closing down all stores
Sharper Image closing down all stores
K B Toys closing 356 stores
LOWES to close down some stores
Dillard’s to close some stores.
You will find numbers may differ all over the World Wide Web from varying sources. Choose your preferred source for further details. While contemplating new ways to enjoy the holidays in an economic downturn be wary of the illusion of expecting something you may not be getting. The take is that many retailers may still be offering gift cards which may not be honored after the holidays and so far, it may not be illegal. Buyer beware, if you have any doubt about the life of a gift card you are considering, pass it up a gift you can wrap your arms around.
Be sure to check the Miami's Holiday Guide for more shopping tips this season
1. Yule come home for the holidays
3. Shopping at Pembroke Gardens