Consumers losing millions on expired gift cards

November 14, 2008 9:42:48 AM PST
The clock may be ticking on some of those gift cards you might have received. Experts estimate consumers will lose $100 million this year on worthless gift cards from restaurants and stores which have closed.

Over the last year many retailers have liquidated and are going out of business.

One example is Circuit City. Gift cards from that electronics store are safe for now. A judge has ruled that the retailer can continue to accept them and can even issue more cards while it reorganizes under bankruptcy protection.