With Circuit City having filed for Chapter 11, some of its competitors are seeing an opportunity. One is doing so in a unique way. hhgregg announced that through Tuesday, it will be accepting Circuit City gift cards in its stores.
There are some catches for consumers, however. The cards are only redeemable in hhgregg stores and not on their Web site. And while customers could use the entire balance of their cards, it can only be applied to up to 20 percent of the purchase price of an hhgregg item.
When speciality retailer The Sharper Image declared bankruptcy last year, rival Brookstone made a similar offer to gift card holders.
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Excellent idea on an opportunity. I don't think customers will mind too much about the "catches". At least they can use their cards.