Connecticut Attorney General's Office
Press Release
Attorney General Announces Bankruptcy Court Upholds Plan To Honor Bernie's Gift Cards, Deposits
January 15, 2010
Blumenthal's office appeared in court to support the measure today and monitor the bankruptcy proceeding to ensure that consumers are fully protected. Today's court action means that consumers will have an opportunity to redeem a total of as much as $200,000 worth of unused gift cards before Bernie's liquidates its assets.
Bernie's filed for Chapter 11 bankruptcy on Thursday, and plans to close all 15 stores, including nine in Connecticut. All stores are expected to close by Feb. 28, 2010, at the latest.
"We are sad to lose a longtime Connecticut establishment -- but commend Bernie's for its integrity and respect for consumers," Blumenthal said. "Consumers will rightfully receive full value on their Bernie's gift cards during the liquidation sale, and outstanding deposits will be honored with merchandise or full refund. Consumers should immediately redeem cards and credit while they have this opportunity.
"This order, which we strongly supported, critically preserves consumer confidence when most needed. I am pleased with Bernie's cooperative and caring spirit towards consumers, but my office will continue to monitor this bankruptcy proceeding in court to ensure that consumers are protected to the fullest extent possible."