Two Canadian big-box electronic retail chains are refuting circulating e-mail messages claiming they are in financial trouble and not honoring gift cards.

Both Best Buy Canada and Future Shop issued statements from their respective headquarters in Burnaby, British Columbia, denying claims made via e-mail beginning several days ago.

One of the e-mail messages claims Future Shop stopped honoring gift cards because its U.S. owner, Circuit City, filed for Chapter 11 bankruptcy protection earlier this month. Future Shop is, in fact, owned by Best Buy Canada, and said in a statement its cards never expire and can be used at any of its 137 stores throughout Canada.

Best Buy Canada issued a similar denial of the messages and assurance its gift cards never expire and are valid at all of its 56 locations.

"The e-mail wrongly identifies Best Buy Canada as being owned by a competitor which has recently filed for bankruptcy protection. This is entirely incorrect," the statement says. "Best Buy Canada is owned by Best Buy Canada Ltd. which is a wholly owned subsidiary of Best Buy Co., Inc."