Because of a deal reached today between New York AG Cuomo and KB Toys, you have until Jan 11 2009 to redeem your KB Toys gift card. But only in New York, and not online. After that, you are probably SOL. (article)

What is really interesting from the article though, is this statement:

“KB Toys sold as much as $2 million in gift cards this year alone, and currently holds a total of $12 million in unredeemed gift cards. ”

What? Either people saw the writing on the all about KB Toys and avoided buying their gift cards, or KB Toys shows six years worth of gift card sales as unredeemed on its books. Could the size of gift card “breakage” be way larger than anyone thinks?”