What: If you’re headed to a local fashion boutique or mega retailer that’s shuttering its doors soon (hint: Gottschalks has just begun liquidation), you’re looking forward to once-in-a-lifetime kinda deals. But make sure to try on those clothes and leave second thoughts behind, because if you find a defect later on, you may be out of luck.

What the Denver Business Journal Says:

“Retail liquidations are a trend that’s playing out more and more as store chains — such as Circuit City, Mervyns and Linen ‘n’ Things — increasingly go out of business because of the current recession.

And in such liquidations, defective merchandise often isn’t returnable.”

What We Say: While we suggest that you take advantage of as many opportunities to save as possible (thanks to the Recession), we do remind you to double check anything you buy. In fact, with this unsteady economy, there’s no telling what stores might close down next, so even if you’re not at a liquidation sale, just be extra cautious about what you buy.