Sharper Image STORE CREDIT NOT HONORED Redondo Beach California

I recently contact Sharper Image regarding store credit (that exceeds over $200.00) that i acquired last year, but never used. I was informed by the store that they are currently in bankurptcy and the only way to use the credit owed to me is by purchasing $400.00 worth of merchandise of which $200.00 will have to come out of my pocket. I think this is unfair and was wondering if anyone else has experience the same or simular reponse from this company when trying to use store credit.

Neecy
Long Beach, California
U.S.A.