Gymboree gift cards may only be good until February 15

SAN FRANCISCO (KGO) -- If you have a Gymboree gift card, you should use it soon. 7 On Your Side's Consumer expert Michael Finney says it may be worthless next month.

The San Francisco-based company filed for bankruptcy last Wednesday. It's asking the court for authorization to continue honoring gift cards for 30 days.

RELATED: Gymboree closing hundreds of stores, including some Bay Area locations

Gymboree didn't say how long the gift cards would be honored, but February 15 would be 30 days after the bankruptcy filing.

Gymbucks or Gymboree Rewards points have already been discontinued. Returns are also expected to be accepted in the 30 day window, but once liquidation begins, all sales are final.

"The company has worked diligently in recent months to explore options for Gymboree Group and its brands, and we are saddened and highly disappointed that we must move ahead with a wind-down of the Gymboree and Crazy 8 businesses," CEO Shaz Kahng said in a prepared statement.

Gymboree, which began offering classes for mothers and their children in 1976, runs 380 Gymboree stores in the U.S. and Canada. When it first sought Chapter 11 bankruptcy protection in June 2017, it ran 1,300 stores.

Take a look at more stories and videos by Michael Finney and 7 On Your Side.
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