Corporate just informed stores to remove ALL Third Party Gift Cards from floor immediately.
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This probably has something to do with how the third parties get their money for the gift cards. Domino's may outlast Kmart by decades, but they don't want to let Kmart sell and activate a $25 Domino's gift card that they might not get paid for. My guess is that the company that places these gift cards in stores (Blackhawk?) ordered them to pull them out of fear that they aren't going to get paid for gift cards that customers bought and had activated.
Are the gift cards owned by another vendor that's not getting paid? They expect Sears to transfer the money to them, but if Sears delays or fails to remit, the vendor has to make up the full value of the card.
Walked down to the sears in our mall after reading this. They have 1 gift card display left with nothing but sears gift cards on it.
Why remove the third party gift cards? Amazon, Dominos, Olive Garden, Bass Pro Shops, Microsoft/XBOX aren't going anywhere. If anything, they need to be removing SEARS gift cards off the floor!
If I was judge of a BK court I would consider it an act of fraud to continue selling in-house gift cards knowing that they filed BK before then and would probably file criminal charges against all involved. Unlike the third party gift cards, which are good as soon as they are paid for, the Sears gift cards may not be!
We did this in our Sears store 8 months ago.
Why would they do this?
Dont do it
Wow! Sh--s getting real!!
Confirmed, we did it about 2 hours ago