Attention Holiday Shoppers: Consumers Grow Wary Of Gift Cards

[Purveyor]

U.S. consumers who are already jittery about rising unemployment and higher food prices now have one more thing to worry about as the economy slows - the viability of their gift cards.

When retailer Sharper Image Corp. filed for bankruptcy in February, consumers were left holding worthless plastic cards after the seller of high-end gadgets initially stopped honoring its gift certificates and later liquidated its stores.

And as reports of other high-profile retail bankruptcies trickle into consumer consciousness, holiday shoppers will become nervous about dropping hundreds of dollars on debit cards for stores that may shrink or disappear.

REUTERS: http://www.canada.com/montrealgazette/news/yourbusiness/story.html?id=eb180e8c-48e3-45a2-91ed-f3640188095c