[bargainshopper]

The following companies just filed for bankruptcy:

Hollywood Video

Levitz

Sharper Image

Performance Team Freight

Linens n Things

Circuit City

I am not too sure on all of these. My mom sent me this and thought I would ask here if anyone had heard anything more.. I know I read about Linens n Things.

[wkfrank29]

Hadn't heard on any of the excpet The Sharper Image. Wow! I can't believe some of these.

[QBMOM]

I know the 4 Hollywood videos close to me have all closed in the past couple weeks!

[mckivigl]

wow that is crazy if it is true.

[TigerGirl1226]

Sharper Image and Linens - N - Things were in an article I read recently. I hadn't read about Circuit City or heard it either, but may be for real.

[CM_ANGEL]

Blockbuster just bought Circuit City.

[TigerGirl1226]

I hope that Circuit City stays the same even though they were bought out. One thing I like is that the salespeople aren't commission based so you get a somewhat unbiased opinion of the products when you can find a salesperson, .

[CM_ANGEL]

I just posted it...it actually looks like Blockbuster just "offered" to buy them out...nothing official yet!

[tutt26]

Also Friedmans Jewelers as well if any of you have one near you. Went in there the other day and everything was 30-70% off. Overheard an employee say that there will be another markdown on Mothers day weekend.

[marbear]

TigerGirl, Best Buy is not commission based either, and they price comp. I won't miss any of these stores, but I feel for the people who work there.

[TigerGirl1226]

Originally Posted by marbear

TigerGirl, Best Buy is not commission based either, and they price comp. I won't miss any of these stores, but I feel for the people who work there.

Thanks, I didn't know about Best Buy.

[mothermayi]

Yeah, they offered, but CC declined because their stocks dropped after the offer...Blockbuster is not well liked, I guess.

[joshmamabear]

does anyone still have those $25 LNT GCs from the black n decker deal?

has LNT officially declared bankruptcy? what happens to the store GCs?

when I asked the SM a week ago, he glared at me while saying,

"we are NOT closing". you can use your GCs anytime with no problems. I wanted to

[_rori]

3 Hollywood Videos near me just closed, also.

[cheepmomma]

I also heard that Children's Place has declared bankruptcy. Although, they aren't necessarily closing. I pray that they don't because I like their clothes and love their prices when they have sales. I know that the Sharper Image and Hollywood Video by me have closed.

[Willowlynn]

Crescent Jewelers here in my town have going out of business signs. DH is taking me there tonight....since Mothers day and our anni is only 1 day apart this year. :0 )

[coupons4cancer]

If you have gift cards from the stores listd that MAY close or merge it PROBABLY is a GOOD IDEA to use them ASAP, IN CASE they merge and the merger Co will not accept them. In MANY cases, they give you notice and time to use them. I THINK that is what happened when CVS took over most of the Eckerd stores but THAT was NOT a bankruptcy.

[fuzzyboo]

Even though they are claiming bankruptcy, it doesn't always mean they will close stores. Sometimes they use bankruptcy to restructure so they can pay back their debt. They might close some of the their less profitable locations though. Kmart closed a lot of stores but they are still around after their bankruptcy.

[careyberry]

Yeah, I heard LNT was closing
several stores but not all.

[kvilledrummer]

Originally Posted by coupons4cancer

If you have gift cards from the stores listd that MAY close or merge it PROBABLY is a GOOD IDEA to use them ASAP, IN CASE they merge and the merger Co will not accept them. In MANY cases, they give you notice and time to use them. I THINK that is what happened when CVS took over most of the Eckerd stores but THAT was NOT a bankruptcy.

Agreed......I would use up any LNT GC's I had in a hurry. When a company declares bankruptcy, the court views GC's as debt & cardholders are the last to get paid after investors/shareholders/vendors with outstanding receivables. I haven't heard how LNT will be handling theirs but Sharper Image GC holders got stuck holding the bag earlier this year.

PS - It wasn't CVS that merged w/Eckerd - it was RiteAid (at least here). You are correct that it was a merger not a bankruptcy & the did honor outstanding GCs because taking account of outstanding debt is part of the merger process.

[NoahsMomma]

Here's an update to Circuit City:

Circuit City Gives Up the Fight

[twinkie23]

Thanks Bargain Shopper!

Best Buy is Fine. Expansion into China.
Circuit City is in very big financial trouble.
Sharper Image has filed bankruptcy. Our Brookstone has been accepting SI GC for customers
Linens & Things may file at the end of Qtr.
Hollywood Video (by us) has gone of of business. However this may be a franchise.

Over 9 Billion Dollars were spent by consumers on Gift Cards last year. Most are tossed into a drawer and never used. Exception is an AFCer
These are almost pure profit for the companies. American Express Cards have a Fee associated with them and expire in a year.
Bottom line: Use your Gift Cards.

[Little J's Mom]

Originally Posted by kvilledrummer

PS - It wasn't CVS that merged w/Eckerd - it was RiteAid (at least here). You are correct that it was a merger not a bankruptcy & the did honor outstanding GCs because taking account of outstanding debt is part of the merger process.

CVS and a Canadian pharmacy bought out Eckerds then RiteAid bought out the Canadian Pharmacy a couple years later.

Originally Posted by mothermayi

Yeah, they offered, but CC declined because their stocks dropped after the offer...Blockbuster is not well liked, I guess.

Blockbuster was/is attempting to do a 'hostile' takeover. Similar to what Microsoft was/is trying to do with Yahoo.

I can't stand blockbuster personally. I am a Netflix girl.

[joshmamabear]

heads up!

LNT is having memorial day sale starting the 22nd. there are some beach towels with 30% off, then use the 20% store coupon while paying with the LNT GC.

those who have the $15/$15.0x Bud Beach MIR, can get them almost free after rebate.