The Shaper Image says that it will resume redemption of gift cards, but there’s a catch.
The retailer said in a statement that it will take the cards only if the full amount is used in a single transaction and if the customer is purchasing items that are twice as much as the card’s value.
The program is voluntary, and the retailer said that they may be able to resume normal gift card redemption in the future.
“While not a complete solution, it does provide immediate satisfaction to customers on a voluntary basis,” said Robert Conway, company chief executive.
As we previously reported, when a retailer enters Chapter 11 bankruptcy gift card holders are considered unsecured creditors and are fairly low on the pecking order when it comes to getting their money.
In other Sharper Image news, the retailer is asking the courts for permission to hire an outside liquidator to conduct the closing of half of their retail stores.
“A liquidator will ensure “the most feasible, economical and efficient means of achieving the disposition of the merchandise” at its stores, Sharper Image said.