Te Puke solo mother Lisa Bay says she is gutted after learning a Christmas prize is now worthless.

Miss Bay, 30, said she recently won a $100 Dick Smith gift card in a Q Card Christmas Facebook promotion and her prize arrived in the mailbox two weeks ago.

However, the retail group went into recevership this week and it has been confirmed that gift vouchers cannot be honoured.

"I'm gutted," Miss Bay said.

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"I should have come in last week but I just didn't make it. I intended buying a Kindle Paperwhite with an E-book reader.

"I thought it would be a great educational tool for my 8-year-old son Georgie and help me with my studies."

Miss Bay said she was in her final year of studying towards a Bachelor of Business Studies and Accounting Management degree at Massey University.

She tried to redeem her gift voucher at the Elizabeth St branch yesterday, but left empty-handed.

"The store manager told me he was sorry but he couldn't honour it.

"He did offer to sell me the Kindle I wanted for $197 instead of the $219 advertised price but I just can't afford to pay that."

Receiver James Stewart of Ferrier Hodgson said gift vouchers could not be honoured and deposits would not be refunded due to the financial circumstances of the company.

"Affected customers will become unsecured creditors of the group."

It was business as usual at Dick Smith yesterday, with lots of customers snapping up bargains instore.

A communications person for the receiver said it was too early to say how many customers had been affected.

There were also lots of upset customers' comments posted on the Bay of Plenty Times Facebook page yesterday.

Mawera Karetai wrote: "Sadly the writing was on the wall - literally."