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Email Warning About Gift Cards & Closing Stores Spreads Holiday Fear

New York, New York, December 4, 2008—A recent email rapidly circulating the internet is spreading holiday fear amongst consumers. The email warns consumers to be cautious of purchasing gift cards from a rather large list of major retailers, as these retailers are apt to close January 1st or shortly thereafter, thus rendering the gift cards worthless.

In a society already feeling the stress of an economy in recession during the holiday season, this email is another lump of coal in our stockings. The desire to give gifts to friends and loved ones is strong, but the dollar is weak and our wallets are light. The last thing consumers want to do is waste hard-earned money on gift cards that will soon have no value.

The well-meaning but somewhat erroneous email has no doubt contributed to an overall wariness of gift cards. Real concerns about gift card expiration dates and/or penalties for non-use after a specific period of time are additional factors that have also played a part in a reduction of gift card sales.

While the email does make an important point, stressing the need of consumers to be cautious and informed, a total boycott of gift cards is not necessary.

Jim Babb, Manager of Media Relations for Circuit City, states that while Circuit City has filed Chapter 11, only 155 stores will be closing, leaving 567 remaining open. Gift cards will continue to be accepted at all Circuit City stores while they remain open. Circuit City gift cards also continue to be sold and redeemed online at www.circuitcity.com.

Chains such as Ann Taylor, Eddie Bauer, Gap, Footlocker, JC Penny and many others, who are said to be closing some locations but not all, will still honor gift cards at the remaining open stores. Additionally, many chains also have online stores which also accept gift cards.

In regards to the email alert, consumers are advised to do their own research about various store closings, as the email has been proven to contain some misleading information. The original sender of the notice does not reveal any source information, and our own investigation found that many of the facts regarding some store closings are untrue, unfounded, or old and outdated.

If you want to ensure that your purchase is totally protected and certain that your gift will not be rendered worthless next year, then choose a pre-paid bank card over a gift card. They can be used anywhere, anytime, and without penalty.

The lesson learned here is that what you don't know can hurt you, and that there is no such thing as too much information. This is especially true if you own a small business or corporation. Ignorance is far from bliss, the marketplace today is extremely competitive, and the cost of not being informed is simply too high. Successful business investigations prove that when your company's reputation and financial stability are at stake, knowing anything less than everything is courting disaster.

Call Kessler International today for a specialized corporate investigation, and we’ll quickly and efficiently provide you with the knowledge you need to make intelligent choices.

Happy holidays from Kessler International!

For years, Kessler International has been using its expertise in accounting, computer forensics and corporate fraud to investigate financial and cyber fraud. Established in 1988, Kessler International's satisfied clients are comprised of an extensive and distinguished list of Fortune 500 companies and prestigious law firms worldwide. Its diverse staff includes former prosecutors, former law enforcement agents, attorneys, certified forensic accountants, CPAs, certified internal controls auditors, licensed investigators and researchers.

For more information on forensic accounting, computer forensics, and investment fraud, visit Kessler International’s website at www.investigation.com or call (212) 286-9100.

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