Deb Shops, Inc. which specializes in junior and plus size clothing has filed for Chapter 11 bankruptcy protection. The company operates 325 stores nationwide and plans to continue operations as normal.
Gift Cards Still Sold And Honored
Keep in mind, the Bankruptcy Court must approve the decison to continue accepting gift cards and while such a request is often granted, there is significantly more risk a gift card will become worthless after a company files for bankruptcy protection.
Go Out There And Redeem
If you own a Deb Shops Gift Card, now is the time to redeem your gift for merchandise. While a Chapter 11 filing implies a company intends to stay in business and make a turnaround, there is always the chance the turnaround plans will fail and the company will go out of business for good.
No Stores Closing, Yet
Unlike many Chapter 11 filings and according to the Deb Shops Press Release, the company does not intend to close any locations. I find this particularly odd and would not be surprised to see under-performing locations boarded up. While it's possible the Deb Shops location near you may close, the Deb Shops Gift Card is also accepted online at debshops.com. You have no excuse to redeem yout gift card right now.
Remember, ScripSmart offers a free account system for registering the ownership of gift cards. ScripSmarts alert system will send you helpful reminders to use those gift cards. We also send out alerts when a company files for bankruptcy. Sign up free here.