Use It Or Lose It – Major Retailer Issues Gift Card Deadline During Bankruptcy
(KMDL-FM) When is a gift card not a gift card? When the gift card you give is to a business that is no longer in business. Unfortunately, many very well-intentioned wishes that were made in the form of a gift card to a well-known retailer will turn into worthless pieces of plastic in less than one month's time.
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What was once the "easy button" of gift giving, the gift card, has become a bit of a conundrum in the current economic climate. With so many major retailers and retailers at the mall level facing a tough economic climate, many gift givers could find themselves in a game of economic "chicken" when it comes to purchasing a gift card.
By that, we mean this. Many of us are now contemplating the health of a store or a franchise before investing in a gift card for someone we care about. The reason? We don't know if that store will still be there next week, next month, or anytime in the foreseeable future.
What To Do If You Have a Gift Card For A Store That's Gone Out of Business
Now, if you do find yourself in possession of a gift card that was issued by a business that is no longer in business or in the process of going out of business, you do have some limited actions that you can take.
In some cases, it could be as simple as filing a proof of claim if the business is in bankruptcy, or you might can get the money returned to your credit card account if the gift card was purchased using that as a method of payment.
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Eddie Bauer was once a leading brand in the outdoor clothing market. The brand, Eddie Bauer, actually still is. However, the Eddie Bauer that you once knew is about to be no more. The company filed for bankruptcy protection in February.
Based on reports, the company plans to auction its brick-and-mortar operations in the coming months. Based on recent information, the brand operates some 175 brick-and-mortar locations across the United States and Canada. At its peak, the brand operated more than 600 stores worldwide.
Eddie Bauer Sets Deadline For Gift Card, Loyalty Points Usage
The company has revealed that March 12, 2026, will be the last day it accepts gift cards and loyalty points on purchases. The current store policy now reflects a no exchange and no refund edict. That means that all sales will be final.
Now, this does not mean the Eddie Bauer Brand will disappear from store shelves. The company's online and wholesale operations will continue. They are owned by a separate entity from the company that operates the physical storefronts.
You may also be able to find Eddie Bauer brand products via other retail outlets. But if you have a gift card or you've built up loyalty points through the years, you need to use them before March 12th.