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Not sure how true this is but I have heard on the news that Sharper Image wasn't taking any gift cards - I believe they have mentioned other companies as well but don't remember who they were. I would look under Yahoo Finance section to see how they are doing.
I believe the BB&B one is a rumor. If you do a google news search you can see a million stories on the Linens and Things bankruptcy and the Sharper image bankruptcy but there is zilch on BB&B except articles saying how good it is for their business that LNT is bankrupt.
Ok good, because we're going to register at BBB this afternoon!
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The Sharper Image is old news, they filed for Chapter 11 and stopped taking gift cards, but it was over a year ago. LNT has filed for Chapter 11, and will be closing about 120 of their 500+ stores for financial restructuring. Here are the stores that are closing: http://biz.yahoo.com/bw/080502/20080502005349.html?.v=1. BB&B is a rumor. The rest, I would assume are rumors, as well.
Check out www.snopes.com. "Bankruptcies" is #4 on the Hottest Urban Legends list on the left. The BBB rumor is just rumor.
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http://www.snopes.com/politics/business/bankruptcies.asp
Snopes says: Partly True
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I think someone posted on here recently an e-mail they got from Linens n' Things. They had registered there and LnT e-mailed them to let them know that they were still doing business.
Here's a link to that thread:
http://boards.weddingbee.com/topic/linens-and-things-files-for-bankruptcy
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I can't find anything that says BB&B is in trouble. And even for LNT, filing for bankruptcy doesn't mean they will disappear. Current plans are to close over 100 of around 500 stores. Remember when KMart filed for bankruptcy a few years back? They also closed a lot of stores, but are obviously still in existance.
The problem as I understand it is that with the current banking issues (largely due to people with interest-only mortgages defaulting on their loans) banks are becoming more pick about major lines of credit, which is hurting retailers who had marginal earnings and operating primarily on credit to maintain their inventory. One thing that is almost certain is the the closing of multiple LNT will actually help BB&B, who is their major competitor in many markets. Anyway, I wouldn't panic and close your registry; that email is going all around the country in various forms and its origin is absolutely unclear.
ok, whew, i'll wait to hear more. i just want to make sure since we may receive gift cards, and i'm wondering if that's a risk! :P thanks everyone!
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Yup, that was me that got the email from LNT.
They're not closing the one around me, but they are closing the one near my parents (and near the wedding), but my mom asked when they were closing that store and they said not until August.
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OK, I'm confused. Is there any truth to this e-mail forward (please see below), mostly wondering whether Bed Bath and Beyond is filing. I searched online, and some are saying it's just a rumor, but I'm wondering if anyone knows for sure. I have a registry there, so I'd like to know whether or not to keep it.
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My niece works for a law firm that handles bankruptcies and this is the list she got today.
The following companies filed for Bankruptcy:
Hollywood Video
If you have gift cards from the above list use them ASAP, they will not valid for much longer.