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cincinnati,#2General Comment
Sat, December 08, 2012
You mentioned that your gift card was several years old. In 2006, Suncoast, Sam Goody, Media Play and On Cue's former ownership group, Musicland Group, Inc. liquidated in bankruptcy court and TransWorld Entertainment (owners of FYE, Strawberries, et al) purchased the remaining stores and assets. They announced that there would be a limited lifetime to all gift cards previously issued under Musicland and that after that period of time they designated, those gift cards would no longer be honored.
This was permitted because these were monies held (until GC's redeemed) by the former ownership. Once that company liquidated, Transword did, in fact, assume such things as debts from them however, they were permitted to place time limits on honoring such outstanding debts.
I hope this helps explain things.