My father-in-law is a retired accountant. He hates receiving gift cards; when he does get one he spends it as quickly as possible, for fear that the store will declare bankruptcy and the card will be worthless. I found this behavior somewhere between "charming eccentricity" and "relic of a bygone era".

Two Christmases ago, by brother-in-law gave me a gift card to Gander Mountain, and outdoor-goods store. I shopped but found it overpriced, and there was nothing I needed at the time, so I held on to the card.

As you've probably guessed after reading the first and second paragraphs, Gander Mountain has declared bankruptcy. The card is now worthless. When I asked at the front desk they gave me a slip of paper with information on how to make my claim at the bankruptcy court. I guess I might, but honestly there's no chance that it'll get so much as a penny on the dollar. I'm a junior unsecured creditor behind basically everyone. I guess I'm senior to the shareholders but that's it. And everyone knows they're getting nothing.

Ah well, maybe I can put it aside for 50 years and sell it as a curio.

Posted by: Boviate at 08:04 PM | No Comments | Add Comment
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