CertifiChecks - Gift Certificate Company Files for Bankruptcy
Considering using some of those gift certificates you have in your drawer? You might want to see if they are still good after CertifiChecks filed for bankruptcy.
CertifiChecks is or was a large gift certificate company. The company was based in Ohio. It had operations in 47 states and worked with the military as well. The bread and butter business of the company was working with businesses to provide gift certificate promotions to entice and increase customer counts.
The current economic recession has been bad for everyone. That being said, it has been far worse for certain segments of the economy. Nobody has been crushed worse than retail businesses. A quick walk through your local mall will show lots of closed companies. Heck, the second biggest mall owner – General Growth – just filed for bankruptcy protection as well.
With the demise of the retail industry has come the demise of accessories to that industry. CertifiChecks is an example of that. They aren’t the first and they certainly will not be the last. Any business tied into the retail industry is on life support at this point, so make sure you keep an eye on the developments with your shops. If you have any gift certificates, you need to exercise them NOW!
So, what does the bankruptcy filing of CertifiChecks mean to you? Not much unless you have one of their gift certificates. If you do, go to the retailer and try to use it. For military families, the news could be different. The army used CertifiChecks for many cash card transactions including the direct hookup of paychecks to cards. Contact your local administrator immediately to find out what arrangements are being made.