Gift cards could be worthless

I was reading on-line today that the retailer Sharper Image will no longer be accepting gift cards as they go through chapter 11 bankruptcy.  Many people are upset that they will not be able to use the gift cards that they received during the holidays.  I think it is pretty crazy for a company as big as Sharper Image to have the nerve to sell gift cards knowing that their financial situation could be hurting.  Also maybe their should be some sort of regulation so more people do not get screwed out of gift card money.  Maybe the company offering them must have the cash in the bank to cover the gift cards they are issuing. 

The estimates are in and roughly $75 million cards from many retailers are at risk this year of just turning into junk. If you get a gift card use it fairly soon after you get it.  It might not be worth anything if you hold onto it for a long time. 

 

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