After HMV went into administration this week, thousands of people have been left with a Christmas present they cannot use, in the form of a gift voucher.
Andrew Johnson, director general of the UK Gift Card and Voucher Association, told the Today programme that if a shop is still trading, people should be able to spend their vouchers, adding that the voucher industry has been "growing significantly" in recent years.
Which Magazine money expert James Daley told Evan Davis that voucher holders often end up "with absolutely nothing", saying that other, bigger creditors have gone in "with their eyes open" and understand the credit risk they have taken. He said that it is hard to advocate gift vouchers at the moment, asking "why not stick a cheque in the post?"
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