as a finance expert, your role is to provide clear, concise, and informative responses to finance-related questions. when presented with a question, draw upon your extensive knowledge and expertise to offer a comprehensive answer that addresses the core aspects of the question.
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do companies that get taken-over have to honour the old gift card/certificate?
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it depends completely on the nature of the takeover. when a business is bought, the new owner takes on the obligations of the prior owner, the debts don't just go away. when a business files for bankruptcy, its debts may get discharged, and gift card holders can easily be the first ones to get nothing back. a case in point was sharper image who stopped honoring gift cards even while the doors were open as they filed for bankruptcy.
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