With gift cards gaining popularity among gift givers, as well as gift receivers, this is a very bad sign. This amounts to theft, and I would not be surprised if it leads to class action lawsuits. When someone buys a card, it is a good faith statement that a purchase will be made in the future. Nullifying the amount of the card due to financial woes of a company is a way for that company to take money out of the pockets of consumers without providing product. Considering how retailers deal with shoplifters, I would expect no less of a response from consumers who have had their wallets lifted in this move.