Supermarket giant, Coles, will exchange Dick Smith gift cards purchased at its supermarkets before the electrical retailer entered administration with a Coles gift card.

Receiver, Ferrier Hodgson, has said it will not honour gift cards or refund deposits on goods, and affected customers will become unsecured creditors of the group.

“While Coles has already passed on the sale proceeds of the gift cards to Dick Smith Electronics, as a gesture of goodwill to our customers we will exchange valid, unredeemed Dick Smith Electronics gift cards purchased at Coles from July 1, 2015 for Coles gift cards of equal value,” the company said in a statement.

Coles said it has also written to Dick Smith’s administrators, urging them to honour outstanding gift cards, some of which were purchased as Christmas gifts as part of a 10 per cent bonus promotion Dick Smith Electronics initiated on gift card sales in December.

Coles withdrew Dick Smith Electronics gift cards from sale as soon as we were informed the company had been placed into voluntary administration.

Online retailer, Kogan.com.au, has also offered a solution for customers stuck with a Dick Smith gift voucher, offering $25 credit at Kogan regardless of the value of the original voucher. Shoppers must post their Dick Smith gift card to Kogan by February 1 to receive the discount.

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