Gifts cards were once the easiest — if not most thoughtful — of gifts: Buy one, slip it inside a holiday card and you’ve given the recipient a green light to go shopping.

Not anymore. Several personal-finance bloggers warn that before you buy one, you’d better do your homework first. If the company is struggling and files for bankruptcy, that card will likely become worthless.

“Research is no guarantee but you’ll at least have tried to avoid companies that may not make it to the new year,” wrote “paidtwice” in a post called “I still love gift cards, but no bankrupt ones please.” She’s darned happy she’s already used her Linens ‘n Things gift cards.

Patrick at Cash Money Life also advises you do some research before you commit. “The worst part is, some stores that are planning to close after Christmas are still selling the cards through the holidays, even though the cards will be worthless in January,” he said.

Even if bankruptcy isn’t in the cards, so to speak, you might want to check on whether a national chain plans to close a store in your area as it downsizes in a tough economy. How convenient is a gift card if the closest store in the chain is now 100 miles away?