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This is an update to the post from a few days ago regarding Gift Card Rescue (see, Gift Card Rescue is Out of Business).
Today, I received a follow-up email from the company’s CEO officially announcing that GCR has closed and has ceased doing business. It contains some important information for those who might have purchased or sold gift cards to GCR recently, which is why I am copying it here. It says:
July 22, 2016
To our Customers:
It is with great sadness that I am informing you that GiftCardRescue.com has closed and ceased doing business.
The company I founded eight years ago and have worked tirelessly to build into a multi-million dollar business was forced to shut down on July 15th after one of our lenders froze our bank account. This happened without any warning.
In these circumstances, all we can do is to wind down our affairs, including letting our customers and others with whom we did business know of our closing. Gift cards that were purchased before July 15th have all been shipped to buyers. Gift cards received in the mail within the last two weeks from sellers that were yet to be processed are being returned to senders. If you have a pending payment or are awaiting a refund, you will receive a separate communication.
I sincerely regret this outcome and any possible impact to you. I would like to thank all our loyal customers over the years, some of whom have been buying discounted gift cards from us since we started in 2008. It was a pleasure to have you all as customers.
If you would like to send any communication to GiftCardRescue.com, please send it to the address below.
GiftCardRescue.com, P.O.Box 6244, Ellicott City, MD 21042
By: Kwame Kuadey,
If you are a purchaser or seller, this is the most important information:
(1) Gift cards that were purchased before July 15th have been shipped to buyers, and (2) Gift cards received within the last two weeks from sellers that were yet to be processed are being returned to senders.
For those owed money or gift cards from GCR, what has been your experience in the past week or so? Have you had any success in recovering your money or cards?
Editorial Note: The opinions expressed here are mine and not provided, reviewed, by any bank, card issuer, or other company unless otherwise stated.