News

January 22, 2019 News

Y. David Scharf Authors Article on Fate of Gift Cards In Sears’ Bankruptcy

January 22, 2019 – Morrison Cohen Partner Y. David Scharf authored the article “Sears' Bankruptcy: The True Cost” that appeared in Fox Business on January 9, 2019.

David examines the special circumstances involving already-purchased gift cards during bankruptcies and the confusion for consumers on the fate of their gift cards.  Whether already-purchased Sears gift cards will still be honored is not clear. As Sears works out the financing that keeps stores open and mitigates their overall losses, they may not honor previously-issued gift cards.

Link to article:  “Sears' Bankruptcy: The True Cost