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If you have a gift card for JCPenney, J. Crew, or another bankrupt retailer, experts say you should use it right away

If you have a gift card for JCPenney, J. Crew, or another bankrupt retailer, experts say you should use it right away
REUTERS/Kamil Krzaczynski



If you have a gift card to a retailer that has filed for bankruptcy, it's best to use it right away, according to Darren Azman, partner at McDermott Will & Emery.




While most retailers will want to honor gift cards throughout bankruptcy, there are plenty of uncertainties in any restructuring.




Shoppers should make sure they're up-to-date on a retailer's policies before planning to use a gift card.




Visit Business Insider's homepage for more stories.



After a retailer files for bankruptcy, one of the first questions that consumers might have is what to do with any gift cards they have unused.
The best thing to do is to use those gift cards right away, according to Darren Azman, a partner at McDermott Will & Emery, a law firm that works with financially distressed companies.
Azman said that most retailers will try to honor gift cards throughout the bankruptcy process, as it helps them to maintain goodwill with their customers.
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