Check with your store about gift cards if they're heading out of business

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Story Created: Nov 21, 2008 at 11:47 AM EDT

Story Updated: Nov 21, 2008 at 5:11 PM EDT

Every year, billions of dollars worth of gift cards go unspent. That amount could go up after this holiday season - but not by choice. Some financial experts warn against buying gift cards from chains that are in danger of closing.

Here is a list of franchises planning to close stores either before, or soon after the holidays. We should point out though, if you buy a gift card, for example, from one JC Penney's location which closes, you could still redeem the card at another JC Penney's location.

So be sure to check with the store before fearing that your gift card is unusable:

  • Circuit City (filed Chapter 11) 
  • Ann Taylor- 117 stores nationwide closing 
  • Lane Bryant, Fashion Bug ,and Catherine's to close 150 stores nationwide 
  • Eddie Bauer to close stores 27 stores and more after January 
  • Talbots closing down specialty stores 
  • GAP closing 85 stores 
  • Footlocker closing 140 stores more to close after January 
  • Wickes Furniture closing down 
  • Zales closing down 82 stores and 105 after January 
  • Piercing Pagoda closing all stores 
  • Disney closing 98 stores and will close more after January. 
  • Home Depot closing 15 stores, 1 in NJ ( New Brunswick ) 
  • Macys to close 9 stores after January 
  • 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. 
  • KB Toys closing 356 stores 
  • Lowes to close down some stores 

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