If you're very lucky, someone took over the old company and still honours those gift cards. The much more likely scenario though is, you now have a gift card that can't be used for anything and is worthless.

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You might be able to take the gift card to a competitor and they might offer you a discount if you then shop in their store. Mom and Pops are more likely to do this than say Walmart, and stores in the middle sizes are kind of a coin flip.

I will say that every retail store I worked for, big or small, we were told to ALWAYS take competitor coupons, even if they were expired. I have never taken in a competitor gift card, but exceptions are always on the table to gain a new customer.

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There is a small collectors marker for gift cards for large companies that went out of business.

But generally yes the card itself is worthless