We all know the economy is a bit shaky right now. Well there is some buzz going around that Linens-N-Things might be looking to re-organize in some way or file for Chapter 11 bankruptcy protection. The bankruptcy filing may come as early as this Tuesday. Under Chapter 11, a company usually hires a consulting firm to help them get back on their feet again and stores remain open as it's usually 'business' as usual for while. Sometimes the 'under preforming' stores get the ax during the process.

While many companies have gone down this path, it's not guaranteed they will emerge and stay open. It basically depends on the financing put in place during the reorganization and also how much faith the courts and lenders have. The stores should remain open, however, I'd like to urge anyone that is currently holding a gift card to use it this weekend. It's better to be safe than sorry. A company can go from Chapter 11 to Chapter 13 (liquidation) in a snap. That means the gift cards would be only worth the plastic they are made of. Also, if they do file Chapter 11, DON'T buy any gift cards either.