PCM featured a story this week emphasizing that people should NOT be buying gift cards this holiday season. Just today KB Toy Stores announced it is suspending gift card sales. And gift card holders are 'unsecured creditors' pretty much leaving you with worthless unredeemable gift cards.
KB is now liquidating over a staggering 400 stores nationwide. KB will close 277 retail stores, 40 Toy Works stores, 114 outlet stores and 30 temporary "holiday stores". This the second time in two years tha KB has filed for bankruptcy protection, but this time they are going under.
If you don't read our article on Christmas Consumer Advice, then be advised ...Give a gift card at your own risk! This year may be the one single year you need to put more effort to gift giving than ever.
