Never buy a gift certificate or gift card from a seller saying it is liquidating unless you know what it means - the business may not be there tomorrow, and you may be out of luck. For more information about gift cards and store closings, view the Store Closing & Bankruptcy section of this website.
If you contemplate buying something at a "liquidation sale," do your homework first. Compare prices before you buy, as you may not be able to return purchases. A retailer in liquidation can still have any return, refund, or cancellation policy it wants, as long as those policies are disclosed before the purchase is made. While it may not accept defective merchandise from return, if the store is closed, that policy will not be useful to you.