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Eye On Olympia

Tue., Jan. 6, 2009, 5:11 p.m.

KB Toy gift card? Run, don’t walk, to the nearest store…

Got a KB Toys gift card? Spend it ASAP. 

The state attorney general's office is warning anyone who got a gift card for KB Toys to use it immediately. The chain's lawyer has told the AG's office that the company is closing its stores and won't accept the cards or store credit after Sunday.

Here's the bad news for Spokane readers: the gift cards can't be used at, the chain's online arm, which is a separate business. And the chain only has three stores in Washington: North Bend, Centralia and Vancouver. The only one in Idaho is in Boise.

Under Washington's gift card law, gift certificates and gift cards sold by retailers usually never expire and cannot include fees that quickly eat away the value of unused cards. (This protection doesn't cover Visa and MasterCard gift cards.) According to the AG's office, however, when a company files for bankruptcy, it's up to a judge to decide which of a corporation's financial obligations are honored.

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