http://www.independent.co.uk/news/business/news/chief-executive-says-hmv-still-has-a-place-on-the-high-street-as-customers-aretold-that-their-gift-vouchers-are-worthless-8451438.html

Personally, this reeks of fraud, and I fail to see how it is legal in the first place. These consumers spend X dollars on Y products in advance, and HMV has the money, and the goods. Going into bankruptcy changes nothing. They have more assets than they are entitled to because of these gift cards.

In a just world, HMV would be required to honor these BEFORE paying any other debtors, and HMV sold these in good faith, and they were purchased in good faith.

I am disgusted.

http://www.gizmodo.co.uk/2013/01/mp-accuses-hmv-of-theft-over-gift-voucher-sales/

http://fecktv.com/sligo-hmv-not-accepting-gift-cards-anymore/

http://www.eurogamer.net/articles/2013-01-16-angry-grandfather-walks-out-of-hmv-with-3-games-after-staff-refuse-to-accept-gift-voucher

This is standard practice for any situation like this where a company goes into recievership and bankruptcy - people who have purchased vouchers are treated as unsecured creditors and so go to the bottom of the pile for repayments. It does suck but the company clearly owes a great deal of money to a lot of people - who should be paid first? Sometimes the stores arrange something like the voucher will be honoured if an equal amount is spent at the same time but that is at their discretion. Its a shit situation all round but I personally feel sorrier for the employees who have lost their jobs

Anyone who complains about Steam's terms of service should read about gift cards some time. You give them money for a promise they do not have to fulfill. You don't even save money doing it, the whole thing is a scam people have accepted because they're too lazy to shop for people.

I personally never really understood the point of a gift card when you can just give some a giftcard to the world (i.e. money).

The money you speak of is really legal tender and its value is not guaranteed either. Just give people chunks of gold.

Even better! Or eggs! Then we could use a barter system.

Why are people treating this like it's the first time it's happened and acting so shocked? It's not the first time it's happened (especially in the UK). In fact there's quite a history of it and people are advised to avoid gift vouchers from companies that are having difficulties as a result.

http://www.gog.com/forum/general/hmv_gone_into_admin

We were talking about this yesterday, the most sickening thing for me, was that they knew they were going under before christmas and checked with their legal team as to their liability for gift cards, they were told they wouldnt have to honour them and they still let people buy them at xmas.

I was going to go to Gamestop and put a 30€ deposit on Tomb Raider (released in march) and I'm wondering if they will be around then.

Most of the staff left there before xmas (shortly after Game went under), maybe they saw the writing on the wall for GS then.

It is poor this has happened and i know a lot of people would have got gift cards for Christmas presents. The company got the money so it is not as if they are losing money from people using the gift cards.

I actually had an HMV card with like 20 Euros on it

Fuck me

Not after HMV screwed you, you never know where they've been :)

It varies from state to state, but even in the best case you're writing the company an interest free loan. They might even be allowed to cancel the gift card after a period of time without even having to be bankrupt.

Anyone with any legal knowledge know if I could make a store in which every purchase, even the ones where the product is given right after payment, are dealt as paying for a gift card and using the gift card right after, so I could take the money and not give the product to people I dislike?

Doubtful, but isn't that how MS' points system works? Make people buy points and then refuse to sell the exact number of points that they need so you're guaranteed to overpay. That was perfectly legal when I complained about it.

This is easily rectified - never ever buy anyone a gift card. If you don't know what to get someone, just give them then money. This way they are truly free to chose whatever they want to have, and not forced to use a specific vendor.

The only people benefiting from Gift Cards are the sellers.