As you are probably aware, Tweeter, the electronics retailer is going out of business and closing all stores by the end of the year. As I reported earlier in this piece, the company had announced it was only going to honor outstanding gift cards for 5 days (yes, 5 days), after which gift card holders are pretty much out of luck. Well, not so fast.
Attorney Generals from a few states, including Maryland and Connecticut decided to step in and pressure the retailer to allow more time for gift card holders to redeem their gift cards. The company has since agreed to continue to redeem gift cards until stores close.
So, if you are still holding on to a Tweeter gift card, NOW is the time to use it or lose it. All stores are supposed to close by the end of the year. Kudos to the state Attorney Generals that stepped-up to protect consumers. This may be a model for the future to ensure that retailers, some of whom continue to sell gift cards the day before they declare bankruptcy, will not be allowed to take consumers for granted.