Retail expert Martin Lewis has advised shoppers to steer clear of buying Debenhams gift vouchers or ordering deliveries after the department store chain went into administration.
Lenders took control of the company on Tuesday, but chairman Terry Duddy insists that the firm will "continue trading as normal".
All outstanding orders, refunds and returns will be honoured, Debenhams say.
Mr Lewis, founder of MoneySavingExpert.com, says there are ways shoppers can protect themselves but they should be wary about paying for larger items from Debenhams with cash or a cheque.
He said: "Clearly, Debenhams is not in the most stable state at the moment. So personally I wouldn't be buying anyone any gift vouchers from there in the future (although I'm not a fan of gift cards and vouchers anyway).
"I'd also be very careful if I was ordering something now for delivery a decent amount of time in the future, and buying any items that might break down because returns can be difficult too if a firm goes bust.
"Having said that, if Debenhams is at the right price and right place for you, and you want to buy something there, there are ways to protect yourself. If goods are over £100, buy them on a credit card - although do repay in full - so that you get Section 75 protection, and otherwise pay on a debit card or credit card to get chargeback protection.
"I would certainly be wary of paying for any larger items with cash or cheque because that gives you no protection at all."
The Debenhams administration came after a £200m rescue plan from Mike Ashley's Sports Direct was rejected.
The offer involved underwriting a rights issue which would see existing investors buying newly-issued shares and was an advance on an £150m plan tabled on Monday, which was rejected.
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Under Mr Ashley's latest proposal, Debenhams' lenders would have had to agree to write off £82m of its £720m debt mountain, as well as install the tycoon as chief executive.
Lenders to Debenhams said the latest proposal, on the terms set out, was "not sufficient".
Shareholders such as Mr Ashley's Sports Direct, which holds a 30 per cent stake, will see their investments wiped out.
What next for Debenhams following this week's pre-pack deal to lenders?
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