PHOENIX — You see the “closing” signs at many shopping centers lately. More stores are going out of business as the pandemic has played havoc with their sales.
So, what does that mean if you have a gift card? Can you still use it? Well, that depends.
June Whisel did a lot of shopping at Stein Mart. The company is closing all of its stores and offering liquidation sales now.
Whisel recently found a gift card and tried to use it. “I’ve got $50 of their money in my hand and they refuse to honor it,” she says. Instead, she says the clerk pointed to a sign that showed the deadline to use gift cards had passed.
While gift cards should be treated just like cash, the rules can change if a business closing, depending on if a bankruptcy court takes over or if the business is sold.