The bankruptcy happened 11 years ago, and it was quite unexpected. They shut down every Sam The Record Man store in the country, except for the flagship store on Yonge St.
During my next visit to Toronto, early in 2002, I attempted to buy several albums with that gift certificate, and it was refused. Somehow, that flagship Sam the Record Man store was no longer connected to the chain of stores that had shut down, and they did not have to honour the gift certificate.
So, yes, I will piss on his grave.